‎Arabian Pipes inks SAR 60 mln contract with Saudi Aramco

‎Arabian Pipes inks SAR 60 mln contract with Saudi Aramco

Arabian Pipes Co. signed, on June 30, a contract worth SAR 60 million with Saudi Aramco to supply steel pipes over a 12-month period, the company announced in a bourse statement.

The contract was also awarded on June 30.

The relevant financial impact will appear in the second quarter of 2023.

There are no related parties to the deal, the pipe manufacturer added.

This is the third contract landed by Arabian Pipes from Saudi Aramco this year. It was awarded a SAR 268 million deal in January and a SAR 100 million contract in May, according to data available with Argaam.