Saudi Steel Pipe wins SAR 97 mln Aramco contract

28/05/2017 Argaam

Saudi Steel Pipe Co. (SSP) on Thursday won a contract valued at more than SAR 97 million to supply Saudi Arabian Oil Co. (Saudi Aramco) with steel casing pipes, the company said in a statement to the Saudi bourse, Tadawul.

 

The contract will begin in Q4 2017 while the financial impact will begin Q1 2018, it added. 

 

The required raw materials will be locally sourced from Saudi Iron and Steel Company (Hadeed), which is 100 percent owned by Saudi Basic Industries Corporation (SABIC).

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