Saudi pipe producer secures deal to supply Uruguay’s Tenaris with steel pipes

RIYADH: The Saudi Steel Pipe Co. has closed a deal to supply Uruguay’s Tenaris Global Services with oil and gas steel pipes.

With orders valued at SR139 million ($37 million), the transaction’s financial impact is expected to roll out in the second half of this year, the Saudi-based pipe manufacturer said in a bourse filing.

Back in 2019, Tenaris, a global supplier of steel tubes, acquired 47.8 percent of Saudi Steel Pipe’s shares in a $141 million deal.