Galfar Engineering denies social media rumours

Muscat: Galfar Engineering and Contracting Company on Wednesday denied rumours circulating on social media that the company has claimed OMR338 million from the government for road and bridge projects and that it will stop work on some projects from March 1.
Galfar Engineering is the biggest contracting firm in the Sultanate.
“In this respect, we would like to clarify that the company has not claimed the referred amount of OMR338 million from the government and that work is progressing in line with the payments received on the projects,” the company said in a disclosure statement posted on MSM (Muscat Securities Market) website.
Galfar had incurred a consolidated loss of OMR5.78 million in 2016, down from an OMR28.86 million loss in the previous year. The company’s consolidated revenue in 2016 stood at OMR340.07 million, down slightly from against OMR345.23 million for the previous year.