Industry: Construction and Industry
Company: Galfar Engineering & Contracting Company
As one of the largest multi-disciplinary engineering, contracting and construction companies in Oman, Galfar Engineering & Contracting SAOG is a national success story driven by Dr P. Mohamed Ali.
The company is also one of the country’s largest private employers in the Sultanate, employing 27,000 people. From its beginnings in 1972, Dr Ali has created a one-stop shop for almost every construction project, with a wide and far-reaching remit, and one of the best records for project delivery in the Gulf at present.
The company’s contracts cover oil and gas pipelines, oil and gas production, collection and processing facilities, service contracts in the petroleum industry, commercial and residential complexes, educational institutions and industrial structures. Dr Ali has amassed a personal fortune of $725m.
Last year the company saw net profits rise 54% to $15.3m, with the first quarter of this year yielding $4.75m, transforming the $2.1m loss of the same period last year as a strong demonstration of its resilience against the regional downturn. By mid-May this year the company was already boasting an order book of $1.5m.
Outside of his business interests, Dr Ali is the founder of the Oman Petroleum Alliance, and the former vice chairman of the state-backed Omanisation Joint Committee.
His charitable works include founding the PM Foundation, which promotes education in rural Indian communities, and being chief patron of the Talikulam Vikas Trust. Dr Ali has been awarded the Oman Civil Order for his services to the Sultanate and, in 2004, received the coveted Outstanding Non-Resident Indian Award.
“We take pride in being one of the pioneer engineering and contracting firms in Oman, having achieved remarkable growth over the last three decades and contributing significantly to the development of Oman,” says Dr Ali.