Saudi Arabia-based pipe manufacturer East Pipes Integrated Company for Industry has announced that it has inked a contract with Saudi Arabian oil and gas company Aramco for steel pipes worth over SAR 1.8 billion ($480 million), including VAT.
Under the contract, East Pipes Co. will manufacture steel pipes and supply them to Aramco for 12 months.
The financial impact of this contract is expected to be reflected in the second and third quarters of the current financial year, and in the first quarter of the financial year 2024-2025.
East Pipes Co. has a production capacity of up to 500,000 mt per year and mainly manufactures pipes for water, oil and gas transportation.