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Sun 18 Nov 2012 03:31 PM

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Oman contractor lands $21.3m water deal

Firm will build new water pipeline and facilities between Khasab and Al Khaldia

Oman contractor lands $21.3m water deal
(Image for illustrative purposes)

Oman National Engineering & Investment Company has landed a US$21.3m (OMR 8.2m) contract to build a new water pipeline and associated facilities between Khasab and Al Khaldia in the Musandam Governate.

The contract, which was awarded by Oman's Public Authority for Electricity & Water, is expected to last for two years.

The company said that it "anticipates realisation of reasonable profit margin" from the deal.

Its most recent accounts for the nine months to September 30 show a 25 percent rise in pre-tax profits and a 27 percent increase in sales to US$6.3m and US$87.1m respectively.

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