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Daewoo, Galfar win $442 mln Oman port deal

Tue Apr 29, 2008 7:34am EDT

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MUSCAT, April 29 (Reuters) - Oman has awarded Daewoo Shipbuilding (042660.KS) and local firm Galfar GECS.OM a construction contract worth 170.2 million rials ($442.2 million) at Duqm port, a Galfar official said on Tuesday.

"The contract is to build 2 breakwaters, each 5 km (3.1 miles) long, two dry docks, each 400 metres (437 yards) long, and one quay wall of 2.5 km in length, and a number of docking gates," K. M. Sagheer, Galfar's general manager of environment told Reuters.

"It also involves dredging and reclamation work. The project is expected to be completed by end of 2010. Construction is scheduled to start as soon as possible," he added.

Oman's coastal area of Duqm is to become a fully integrated downstream export centre, together with a major export refinery and a petrochemicals complex. It will have a crude oil export terminal. The area will become a free zone for downstream industries. (Reporting by Saleh Al-Shaibany, editing by Will Waterman)



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