East Pipes inks key supply contracts with Esnad Al Turuq
RIYADH, August 7, 2024
Saudi-based East Pipes Integrated Company for Industry has announced that it has secured multiple supply contracts worth SAR235 million ($62.5 million) from Esnad Al Turuq for General Contracting.
As per the deal, the company will manufacture and supply the steel pipes and coat them to Esnad Al Turuq with a two-year period, said East Pipes Integrated Company for Industry in its filing to Saudi bourse Tadawul.
Founded in 2010 in Dammam in the kingdom's Eastern Province, East Pipes Integrated Company has 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 financial impact of the contract is expected to be materialised in Q4 of FY 2024/2025 to Q3 of FY 2026/2027.-TradeArabia News Service
