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RIYADH: Saudi oil giant Aramco has sealed a SR268 million ($71 million) deal with homegrown Arabian Pipes Co. to provide steel pipes, according to a bourse filing.
The contract will be valid for 13 months, the Riyadh-based pipe manufacturer said in a statement to Saudi stock exchange, Tadawul.
Arabian Pipes expects the transaction to impact its financial statements starting from the third quarter of this year until the first quarter of 2023.