According to the company’s announcement to the Saudi Arabia Stock Exchange, local pipe producer East Pipes Integrated Company for Industry (East Pipes) has finalized a major supply agreement with the Saudi Water Authority valued at more than SAR 485 million ($129.3 million).
The agreement covers the manufacturing and supply of steel pipes for a duration of six months.
East Pipes stated that the financial impact of this contract will be reflected in two reporting periods: the fourth quarter of fiscal year 2025-26 and the first quarter of fiscal year 2026-27.