Well-known Omani contractor Galfar Engineering and Contracting SAOG has announced that it has won an award in the second of four arbitration proceedings it has launched against state-owned Oman Wastewater Services Company SAOC (Haya Water) in respect of disputed claims between the parties related to the Al Seeb sewage project contract (Phase 3).
“The Arbitration award has decided in all disputed matters and the award obligated Haya Water to pay to Galfar all awarded amounts in a sum amounting to RO 18,860,533.260 plus interest at a rate of 7 per cent from the date of November 5, 2014 up to the date of the award on February 16, 2018 which is equal to RO 4,252,535.357,” said Hans Erlings, CEO — Galfar, in a filing to the Capital Market Authority (CMA)
“Accordingly, the awarded total amount is equal to RO 23,113,068.617 subject to an interest increase of 7 per cent from the date of the award until full payment. This award covers the income recognised in the Company’s accounts,” Erlings added.
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