International

East Pipes lands $440mln Saudi Aramco supply contracts

Published on : 2024-06-04

Saudi-based East Pipes Integrated Company for Industry has announced that it has secured contracts worth SAR1.65 billion ($440 million) from Saudi energy giant Aramco for the manufacture and supply of steel pipes for key projects in the kingdom.

Founded in 2010 at Dammam in the kingdom's Eastern Province, East Pipes has today become a major manufacturer of spiral steel pipes. It presently offers helical submerged arc welded (HSAW) pipes, used in transport, water, oil and gas and other sectors, to customers worldwide.

The entire contract work will be completed within 19 months, stated East Pipes in its filing to the Saudi bourse Tadawul.

The financial impact of the contract will be reflected from Q4 of financial year 2024/2025 to Q4 of 2025/2026, it stated.

The big contract win for East Pipes Integrated Company comes just days after it had clinched contracts worth SAR57 million from Al Rashid Trading & Contracting Company.

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