Arab News, Sunday, Jul 03, 2022 | Zul Hijjah 4, 1443
Saudi Aramco awards $16m steel pipes order to Arabian Pipes
Saudi Arabia:
Saudi oil giant Aramco has given out an order worth SR60 million ($16 million)
to homegrown Arabian Pipes Co. to supply steel pipes.
The contract will be valid for one year, the
Riyadh-based pipe manufacturer said in a statement to the Saudi stock exchange,
Tadawul.
Arabian Pipes expects the transaction to impact
its financial statements starting from the second quarter of 2023.
This comes as an extension to two contracts
awarded by Aramco to Arabian Pipes so far this year, worth SR368 million in
total.