The Clap
Arabian Pipes (2200) revealed that it had won a contract to supply pipes from McDermott Arabia Company Limited (MACL), with an estimated value of SAR 450 million.
The Deets
The contract will last for 12 months and expects the financial impact to be reflected in Q3 2023.
Background
The company won a contract to supply pipes to Saudi Aramco for about SAR 155 million.
Projects
According to the company, the value of existing projects exceeds SAR 800 million, which will contribute to business continuity and the improvement of the company’s sales, in addition to supporting its financial position during the coming period.