East Pipes seals some contracts worth SAR 373 mln with NEOM

22/01/2023 Argaam

East Pipes seals some contracts worth SAR 373 mln with NEOM

Logo of East Pipes Integrated Company for Industry

East Pipes Integrated Company for Industry sealed today, Jan. 22, several contracts with NEOM, at an estimated value of SAR 373 million (inclusive of value-added tax).

 

In a Tadawul statement, the steel pipes maker said the agreements, which entail the supply of steel water transmission pipelines to NEOM, are valid for 12 months. It also noted the signing reiterates the confidence of strategic clients in its products.

 

There are no related parties, the company added, explaining that the relevant financial impact is set to appear starting Q1 2023/24.

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