The Clap
Arabian Pipes (2200) announced that it had won a contract to supply pipes for Saudi Aramco, with an estimated value of SAR 155 million.
The Deets
The company revealed that the contract term is 15 months, and its financial impact will be reflected during Q2 and Q3 of the 2023 fiscal year.
Arabian Pipes
The company manufactures welded steel tubes for oil and gas commercial and construction purposes. The company owns two factories in Riyadh and Jubail Industrial City.
What Now
Arabian Pipes clarified that the total value of the existing projects exceeds SAR 800 million
Why this Matters
The contract will contribute to the continuity of the company’s business, improving its sales and supporting its financial position during the coming period.