Arabian Pipes Company wins $10.9m Saudi Aramco order
The Tadawul-listed firm will supply the state-owned oil and gas giant with LSAW steel piping
Saudi Aramco has awarded a $10.9m (SAR41m) order for the supply of steel pipes to Saudi-based and Tadawul-listed Arabian Pipes Company (APC).
In a filing on the Saudi stock exchange, the group said it will supply the state-owned oil and gas giant with longitudinal-submerged arc-welded (LSAW) pipes.
Made by bending and welding steel plates, LSAW piping is most commonly used in oil and gas industry applications globally.
The supply of the pipes, over a six-month period, will start on the third quarter of 2019 from APC’s factory in Jubail Industrial City in the kingdom’s Eastern Province.
APC said the financial impact will be felt during the third quarter of this year.
The news comes just weeks after APC signed off a $61m (SAR299m) deal with Aramco for the supply of LSAW piping.
Similarly to its 24 February bourse missive, APC did not disclose the volume or the size of the pipes. The pipes will, however, come from its factory in Jubail and will be delivered in an 11-month window.