East Pipes wins $42m Saudi Aramco supply contract
RIYADH, December 3, 2023
Saudi-based East Pipes Integrated Company for Industry has announced that it has secured a contract worth SAR153 million ($42 million) from Saudi energy giant Aramco for the manufacture and supply of steel pipes for key projects in the kingdom.
Founded in 2010 at Dammam in the kingdom's Eastern Province, East Pipes has today become a major manufacturer of spiral steel pipes. It presently offers helical submerged arc welded (HSAW) pipes, used in transport, water, oil and gas and other sectors, to customers worldwide.
The entire contract work will be completed within a 8-month period, stated East Pipes in its filing to the Saudi bourse Tadawul.
The financial impact of the contract will be reflected in the first two quarters of FY 2024/2025.
This comes close on the heels of its big contract win from Aramco worth SAR1.8 billion in May and the recent SAR440 million win last month.-TradeArabia News Service