Saudi Arabia-based pipe manufacturer Arabian Pipes Company (APC) has announced that it has received two new steel pipe orders. The company has signed supply contracts worth SAR 322 million ($85.86 million) and SAR 43 million ($11.46 million) with Saudi Arabian oil and gas company Aramco and China Geo-Engineering Corporation’s Saudi branch, respectively.
Under the contracts, Arabian Pipes Company will supply pipes to Aramco for 10 months and to China Geo-Engineering Corporation’s Saudi branch for seven months.
The financial impact of the contract on Aramco is expected to be reflected in the fourth quarter of 2023 and the second quarter of 2024, while the impact of the contract with China Geo-Engineering Corporation’s Saudi branch is predicted to be reflected in the first quarter of 2024.