Muscat: Haya Water has been ordered to pay Galfar Engineering and Contracting over OMR1.3 million, according to a statement submitted to the Muscat Securities Market by the Chief Executive officer of Galfar, Hans Erlings.
"We would like to inform our esteemed shareholders and investors that an arbitration award was issued, the third of the four arbitration proceedings between Galfar Engineering and Contracting S.A.O.G. and Oman Wastewater Services Company S.A.O., Haya Water, in respect with disputed claims between the parties in Al Seeb sewage project contract-3," the statement read.
"The award was issued on 1/3/2018 and we (Galfar) have received recitals of the award on 4/3/2018. The award obligated Haya Water to pay to Galfar all the awarded amounts plus the arbitration cost in a total sum of OMR1,332,615," added MSM.
Last month Haya Water was ordered to pay Galfar over OMR23 million, after a ruling in the second arbitral proceeding out of four.
"The ruling obligates Haya Water to pay to Galfar all awarded amounts in a sum amounting to OMR18,860,533.260, plus interest at a rate of 7 per cent from the date of 5/11/2014 up to the date of award on 15/2/2018, which is equal to OMR4,252,535.357.
"Accordingly, the awarded total amount is equal to OMR23,113,068,617 subject to an interest increase at 7 per cent from the date of the award (15/2/2018) until full payment," Galfar's statement had said at the time.