Saudi-based East Pipes Integrated Company for Industry has announced that it has secured a contract worth over SR1.8 billion ($480 million) from global oil major Aramco to manufacture and supply steel pipes for one of its 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 12-month period, stated East Pipes in its filing to the Saudi bourse Tadawul.
The financial impact of the contract will be reflected in the third and fourth quarters of the current financial year 2023/2024, as well as first quarter of FY 2024/2025, it added.