Group Five slashes Ras Al Khair project’s pipes quantity by 39%

Logo of Group Five Pipe Saudi Co.

Group Five Pipe Saudi Co. announced that it was mutually agreed with the Saline Water Conversion Corporation (SWCC) to reduce the total quantity of the Ras Al Khair Project by 39%, in line with the relevant authorities' plan to complete the project ahead of the original contract execution deadline.

In a statement to Tadawul, the company said that it will deliver the remaining quantity of project pipes in accordance with the approved delivery schedule by Q1 2026.

However, this reduction in quantity does not affect the operating plans for 2025-26 during the period scheduled for implementation, according to the company.

Group Five also emphasized that the management is quite optimistic about the outlook of the company, due to the increasing local demand for water transmission lines to support initiatives aimed at increasing water reserves across the Kingdom.

Moreover, the company sees that the strategic alignment of its business objectives with the Kingdom’s policies, along with projects under execution, will continue to drive its growth going forward, unlock its potential to the fullest, and help explore additional opportunities that will enable it to achieve greater milestones in the Kingdom along with Vision 2030.

Group Five signed, in March 2024, a 22-month contract worth SAR 3 billion, including VAT, with SWCC for the manufacture and supply of spiral-welded steel pipes for the Ras Al Khair-Riyadh water transportation system project, Argaam data showed.