RIYADH: Dammam-based East Pipes Integrated Co. for Industry has secured a contract worth over SR440 million ($117 million) with Saudi energy giant Aramco for the manufacturing and supply of steel pipes for key projects within the Kingdom.
In its filing to Tadawul, the manufacturer of spiral steel pipes stated that the entire contract work is set to be completed within a 13-month period. The company further emphasized that the financial impact of the contract will be evident in the second and third quarters of the financial year 2024/2025.
Established in 2010, East Pipes is one of the leading manufacturers of helical submerged arc welded pipes, with an annual production capacity of up to 500,000 tons, according to its website.
In May, the firm secured a contract to manufacture and supply steel pipes to Aramco, marking another significant deal worth SR1.8 billion, according to a bourse filing.