The Clap
Group Five (9523) signed a contract with Bin Omairah Holding to supply spiral-welded steel pipes for the National Water Company’s third-ring supply project in Mecca.
What
The contract is estimated to be worth SAR 42.2 million and will last for 365 days from the date of signing, with the project expected to be completed before the end of Q4 2023.
So What
Group Five is the leading supplier of spiral tubes in the Middle East, with five production lines and an annual capacity of 500,000 metric tons of pipe production.
Now What
The financial impact of the agreement is expected to be reflected during the fiscal Q2 2023 until Q4 2023.
