Saudi Steel Pipe wins over $8.34mln contract

The production and financial impact of the deal will appear during the second quarter of 2020

  
Young engineer man checking production line in wire warehouse Image used for illustrative purpose.

Young engineer man checking production line in wire warehouse Image used for illustrative purpose.

Getty Images/ serts

Riyadh –  The Saudi Steel Pipe Company (SSP) was awarded a contract to supply oil and gas steel pipes in consideration of an amount that exceeds 5% of SSP’s revenue in 2018, according to a bourse statement released on Thursday.

Last year, SSP’s revenues fell 7.2% year-on-year to SAR 646.2 million in 2018.

The production and financial impact of the deal will appear during the second quarter of 2020.

Source: Mubasher

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