Group Five Pipe Saudi Company has signed a 3 billion Saudi riyals ($799.94 million) contract with state-backed Saline Water Conversion Corporation (SWCC) for the Ras Al Khair-Riyadh water transportation system project.

The 22-month contract includes the manufacturing and supplying of spiral-welded steel pipes to transport Ras Al-Khair water to Riyadh, the company said in a statement to the Saudi Stock Exchange on Monday.

Last month, Group Five and Saudi Aramco signed a contract worth more than SAR 30 million to manufacture and supply spiral-welded steel pipes tailored for one of the oil major's projects.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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