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Wed 19 May 2010 03:42 PM

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India's Larsen & Toubro wins Oman construction deal

L&T signs construction contract to build the new state-of-art labour ministry building.

India's Larsen & Toubro wins Oman construction deal
OMAN WATCH: Oman now is home to just over a million foreign workers, 8 percent more than in 2009. (Getty Images)

India's Larsen & Toubro has won a 18 million Omani rials ($46.76 million) deal to construct Oman's labour ministry building in the capital city of the Gulf Arab state, a tender board official said. "Larsen & Toubro signed the construction contract to build the new state-of-art labour ministry building," the official told Reuters on Wednesday.

"The old building can no longer meet the needs of an expanding economy that requires new recruitments in the country," he added.

The manpower ministry said in a recent report that labour requirements in the sultanate is increasing at a rate of 8 percent per year with new government projects.

Oman now is home to just over a million foreign workers, 8 percent more than in 2009, according to the national economy figures.

The Gulf state declared an expenditure of 7.18 billion rials ($18.65 billion) in 2010 up from 6.424 billion rials a year earlier, fuelling an increase of foreign manpower to build infrastructural projects.

The sultanate has declared a budget surplus of $1.1 billion in the first quarter of 2010 compared with a deficit of $43 million in the same quarter last year, as earnings rose due to strong oil prices. (Reuters)

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