PHOTO
Saudi Steel Pipe Company has signed a 301.9-million Saudi riyal ($80.47 million) contract to supply oil and gas steel pipes to Saudi Aramco.
The contract period is up to 12 months, the company said in a statement to the Saudi stock exchange on Tuesday.
The contract will positively impact the first and second quarters financials of 2024.
Saudi Steel Pipe Company was previously awarded four contracts worth SAR280.7 million ($75 million) by Aramco in the first half of this year for the supply of oil and gas steel pipes.
These included a SAR75.7 million contract in March; Two separate contracts worth SAR96.8 million and SAR50.2 million in May and a contract worth SAR58 million in June.
(Writing by D Madhura; Editing by Anoop Menon)
Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments and partnerships across sectors in the Middle East and Africa.
