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Saudi Aramco Awards Steel Pipes Supply Order to Arabian Pipes

Saudi oil giant Aramco has given out an order worth SR 60 million ($16 million) to homegrown Arabian Pipes Co. to supply steel pipes.

 

The contract will be valid for one year, the Riyadh-based pipe manufacturer said in a statement to the Saudi stock exchange, Tadawul.

 

Arabian Pipes expects the transaction to impact its financial statements starting from the second quarter of 2023.

 

This comes as an extension to two contracts awarded by Aramco to Arabian Pipes so far this year, worth SR 368 million in total.

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