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Aramco signs 3 deals with key steel pipe manufacturers in Kingdom

In a bid to secure a substantial supply of steel pipes, Saudi oil giant Aramco has signed three contracts estimated at around $493 million with the Kingdom’s leading steel pipe manufacturers.   East Pipes Integrated Co. has been awarded a contract to manufacture and supply steel pipes to the oil company, following a deal worth SR1.8 billion ($479.9 million), according to a bourse filing.   The financial impact of the 12-month agreement is likely to be felt in the third and fourth quarters of the current fiscal year as well as in the first quarter of the next financial year. 

Link: https://www.arabnews.com/node/2308086/business-economy

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