International

Saudi Steel Pipe signs $15.46mln supply contract with Aramco

Saudi Steel Pipe Company has signed a contract worth SAR 58 million with Saudi Arabian Oil Company (Aramco) on 30 June 2022.

Under the 12-month agreement, Saudi Steel Pipe will provide Aramco with oil and gas steel pipes, according to a bourse filing on Thursday.

The impact of the supply order is expected to reflect on the steel manufacturer’s financials in the fourth quarter (Q4) of 2022 as well as Q1-23.

Last May, Saudi Steel Pipe penned a SAR 97 million deal with Aramco for the same purpose.

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