Saudi Aramco awards $71m steel pipes deal to Arabian Pipes

Saudi Aramco awards $71m steel pipes deal to Arabian Pipes
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Updated 26 January 2022
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Saudi Aramco awards $71m steel pipes deal to Arabian Pipes

Saudi Aramco awards $71m steel pipes deal to Arabian Pipes

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.