East Pipes Company signs a major contract with Saudi Aramco
East Pipes Integrated Company for Industry, a leader in the steel pipe manufacturing sector, has announced the signing of a new and significant contract with the Saudi Arabian Oil Company (Aramco).
The value of this contract exceeds 771 million Saudi Riyals, an amount inclusive of value-added tax. This agreement comes within the framework of strengthening cooperation between national companies to support energy and infrastructure projects in the Kingdom.
The terms of the contract include the supply of steel pipes used in Aramco's various operations. This deal is expected to contribute to enhancing the company's production capabilities and meeting the growing local market demand in the oil and gas sector.
This step is part of the company's strategy to expand its business scope and contribute effectively to achieving the goals of Saudi Vision 2030, which aims to localize industries and support local content.
The financial impact of this contract is expected to appear in the company's financial statements during the coming periods, reflecting the strength of the economic performance of Saudi companies across various industrial sectors.