Speaking about Galfar:
Galfar, as you know is the largest construction company in the country(Oman) and it works in all facets of development, whether it’s a road construction or whether it’s a port or whether it is airports or whether it is oil & gas or water or sewage networks or fisheries harbor, we do everything. So we play a major role in Oman’s construction development. We are focusing on all the projects which is coming, because we are working on all the fields as I told you we are working on some projects in the oil field constructions, we have recently been reappointed as service contractor for north Oman, we are doing lot of road construction, batinha expressway we are doing there is further Batinha other phases, then we have this harbor projects so we are focusing on major road construction and infrastructure projects.
Challenges Galfar faces:
We provide a package, it is not just one area we as a contractor we provide a package from, just from the earth works to the commissioning of the projects, so the earth works, the infrastructures the construction of civil works, the mechanical works, the electromechanical works, you know we are building two airports, we are building three sea ports, we are building the longest highways and we are doing the most challenging road network from hassett to shiromiya, which nobody has ever attempted, so if you look at any of our projects is the most challenging and we have competitive advantages of our strength and capacity and our knowledge. Oman’s construction is very very competitive and it has been through past, there is a study workload for the contractors those who are here and it is going to continue. May be there is surge in the construction industry here in Oman because the government has a lot of greater plan to add on infrastructure and also in the oil fields.
Market Share of Galfar:
Overall market share if you look at the road construction it may be 30%, if you are looking at the oil & gas sector it may be 25% market share, if you look at the water & Sewage network it has been 30%.Overall in the construction industry we contribute 20% of the construction projects in the country.
Galfar is a robust company which has got strong foundations, strong capability and much higher capacity than any of our competitors and has a great people behind that and people are the strength, the human resource are the strength of any organization and you know the overall strength of our company is people and the committed shareholders and the strong board to direct this. So what else you what? It is the best combination for any company to have, the capacity, the people commitment and the management efficiency and the very efficient board.
Galfar, see it is established in Oman, is grown in Oman now we are going in GCC and India and also we are looking in the other countries with our capacity and our capability, our potential and our market will be much greater and we will grow.We are in UAE, in Qatar and in Kuwait and also we are planning for going to Iraq, Libya whenever the situation allows and in India in a great way, we have already bagged 5 projects in India, so India will be a good market and with a knowledge we gained here, constructed in best of infrastructure, that will much more useful in India.
Market and Material prices:
UAE contractors basically, there we work on a cost, what is a best cost and we earn it over and we return on our equity, so that’s the way we work, so cost is cost for anybody whether it is for contractor A or contractor B, the cost is for everybody and it depends upon what contribution or what’s the profit you want to make. What happens now the oil price was 3$ to 20$, now it is over 100$. So it is quite natural that the basic prices of our material will grow.
Watch the interview here: https://www.youtube.com/watch?v=4IAcoPt3Kgk