Saudi Steel Pipe wins two supply contracts worth SAR 80 mln

16/08/2015 Argaam

Saudi Steel Pipe Co. (SSP) has secured two contracts worth a combined SAR 80 million to supply longitudinal-welded steel pipes, the company said in a statement to Tadawul on Sunday. 

 

Under the first deal, which is valued at SAR 50 million, SSP will supply ten and 12-inch pipes to Petroleum Pipelines Co. (PPC) in Egypt.

 

The company will also supply eight-inch longitudinal-welded steel pipes to state-owned Saudi Arabian Oil Co. (Saudi Aramco); a deal estimated at SAR 30 million.

 

Financial impact of the deal is set to reflect on Q4-2015 and Q1-2016 results, the statement added. 

 

 

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