Company: Galfar Engineering and Contracting Co
Wealth: 725 Million
Dr. Mohamed Ali established Galfar Engineering and Contracting Co in Oman, alongside the Gulf state’s Sheikh Dr Salem Said Al Fannah Al Araimi in 1972.
Since its establishment, Ali has turned the small construction company into a regional market leader, listed on the Muscat Securities Market. Today, the company is the single largest private sector employer in Oman and has activities spanning a wide range of sectors including construction and oil and gas.
Outside of his business interests, Ali is the founder of the Oman Petroleum Alliance and the former vice chairman of the state-backed Omanisation Joint Committee. Overseas, he helps run companies in Qatar, India and Dubai.
His charitable works include founding the PM Foundation, which promotes education in rural Indian communities, and being chief patron of the Talikulam Vikas Trust. He has also been heavily involved in the foundation of the Oman Medical College, which has two campuses in Bowshar and Sohar, and which currently teaches around 1,000 students, as well as the Caledonian College of Engineering.
The Galfar founder has also set up two operator training institutes to help young Omani nationals learn key heavy equipment and vehicle skills.
Dr Ali has been recognised for his efforts by the Indian government; he was handed the Pravasi Bharatiya Samman award by Atal Behari Vajpayee, then prime minister of India, in January 2004, in recognition of his contribution to Indians living overseas.
He is vice chairman of the Omanisation Joint Committee, a local government body.