RIYADH: The Saudi East Pipes Integrated Co. has sealed a SR497 million ($132 million) deal to supply Saline Water Conversion Corporation, SWCC, with water pipes.
The one-year deal’s financial impact will roll out on the company’s financial statements in the fiscal year 2022-2023, it said in a filing to the Saudi bourse.
In a separate announcement, the Dammam-based pipe manufacturer said it had obtained working capital funding of SR285 million.
Founded in 2010, East Pipes joined the Saudi stock exchange earlier this year and specializes in manufacturing steel pipes.
