Saudi-based East Pipes Integrated Company for Industry has announced that it has secured a contract worth SAR440 million ($117.2 million) from Saudi energy giant Aramco for the manufacture and supply of steel pipes for key projects in the kingdom.
Founded in 2010 in Dammam in the kingdom's Eastern Province, East Pipes Integrated Company has now become a major manufacturer of spiral steel pipes.
It presently offers helical submerged arc welded (HSAW) pipes, used in transport, water, oil and gas and other sectors, to customers worldwide.
The entire contract work will be completed within a 13-month period, stated East Pipes in its filing to the Saudi bourse Tadawul.
The financial impact of the contract will be reflected in second and third quarters of financial year 2024/2025.
In May, East Pipes had clinched a similar order worth over SR1.8 billion ($480 million) from Aramco, it added.-TradeArabia News Service