East Pipes signs SAR 1.8 bln supply contract with Saudi Aramco

22/05/2023 Argaam

East Pipes signs SAR 1.8 bln supply contract with Saudi Aramco

East Pipes logo

East Pipes Integrated Company for Industry signed on May 21, a contract with Saudi Aramco at a total value exceeding SAR 1.8 billion (inclusive of value-added tax).

 

In a statement to Tadawul, East Pipes said it will manufacture and supply steel pipes to Saudi Aramco.

 

The contract is valid for 12 months. Its financial impact is expected to appear in the third and fourth quarters of the current FY 2023/24 and Q1 2024/25.

 

There are no related parties to the deal, the company added.

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