Arabian Pipes Co wins $46.4m supply contract from Saudi Aramco
Firm to supply OCTG steel pipes from its factory in Riyadh, with the contract being inked for a period of 18 months
Saudi Arabian Stock Market-listed (Tadawul) Arabian Pipes Company has won a $46.4m (SAR174m) contract from the world’s largest oil producer, Saudi Aramco, to supply steel pipes.
In a stock market filing, the company said that as part of the contract it will supply OCTG steel pipes from its Riyadh factory, with the contract being inked for a period of 18 months — one and a half year.
It added that the financial impact of the contract, which was signed on 16 December, 2019, will be from Q4 2020 until Q3 2021.
Earlier in October 2019, Arabian Pipes Co had won a similar steel pipes supply contract from Saudi Aramco valued at $11.5m (SAR43m), with the contract being signed for a 10-month period.