Al Hassan Engineering Co has been awarded an engineering, procurement and construction (EPC) contract worth RO17.6mn by Petroleum Development Oman (PDO).
‘The company is pleased to announce that it has signed on Wednesday for the letter of award from PDO for the EPC works of Haima west combined cycle power project for RO17.6mn (excluding long lead items of RO13.8mn)’, Al Hassan Engineering said in a filing to the Muscat Securities Market (MSM) on Wednesday.
The execution period for the project will be of 36 months. Al Hassan Engineering said it expects reasonable income from this project. Following the announcement about the new PDO contract, Al Hassan Engineering’s shares surged 9.38 per cent at the MSM on Wednesday.