Arabian Pipes Company has been awarded a contract for the supply of oil country tubular goods (OCTG) steel pipes to Saudi Aramco.
The order value exceeds 174 million Saudi riyals ($46.39 million) and the contract duration is for 1.5 years, Arabian Pipes said in a statement to the Saudi bourse.
The company added that the financial impact of the contract will be reflected from the fourth quarter of 2020 until the third quarter of 2021.
(Writing by Gerard Aoun; editing by Seban Scaria)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2019