Saudi Arabia-based pipe manufacturer East Pipes Integrated Company for Industry has announced that it has inked a contract with Saudi Arabian state-controlled desalination plants and power station operator Saline Water Conversion Corporation for the supply of steel pipes worth over SAR 1 billion ($266.6 million), including VAT.
Under the contract, East Pipes Co. will manufacture steel pipes and supply them to Saline Water Conversion over a period of 30 months.
The financial impact of this contract is expected to be reflected in the first quarter of the financial year 2024-2025 until the second quarter of the financial year 2026-27.