Saudi-based East Pipes Integrated Company for Industry has secured a major contract from Saline Water Conversion Corporation (SWCC) for its upcoming water projects.
As per the SR497 million ($132 million) contract, East Pipes Integrated Company will complete the supplying of its spiral steel pipes to SWCC within one year, stated the company in its filing to Saudi bourse Tadawul.
Founded in 2010 at Dammam in the kingdom's Eastern Province, East Pipes Integrated Company has become a major manufacturer of spiral steel pipes.
The company presently offers helical submerged arc welded (HSAW) pipes, used in transport, water, oil and gas and other sectors, to customers worldwide.
The financial impact of the contract is expected to be materialized in the fiscal year 2022-2023, it added.