Jiangsu Province-based Chinese pipe producer Yulong Steel Pipe Co. has announced that it has recently signed two steel pipe supply contracts with Shandong Kerui Petroleum Equipment Co. The total value of the contracts in question is around RMB 387 ($63 million), equivalent to 15.7 percent of its operating revenue in 2012.
One contract is for a supply of longitudinal submerged arc welding (LSAW) steel pipes worth RMB 104.46 million ($17 million), which will be then exported to Central Asia, while the other is for a supply of LSAW steel pipes worth RMB 282,597,700 ($47 million), which will be exported to South America. Delivery of the products will be completed by the end of September this year.