Saudi Steel Pipe Company delays launch of plants to Q1-2015

31/12/2014 Argaam

 

Saudi Steel Pipe Company is delaying the trial run of its pipe coating and steel tube plant projects to the first quarter of 2015, the company said on Wednesday in its statement to Tadawul, Saudi Arabia’s bourse. 

 

The plants are still missing necessary equipment, it added. 

 

The trial phase of both projects is scheduled to last for three months during the first quarter of 2015, pending approvals from local oil companies.

 

Financial impact of both plants will materialize once the company launches commercial operations. 

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