East Pipes Company signs a massive contract with Saudi Aramco worth 771 million riyals
East Pipes Integrated Company for Industry announced on Sunday the signing of a new and significant contract with the Saudi Arabian Oil Company "Saudi Aramco." The value of this contract exceeds 771 million Saudi riyals, an amount that includes value-added tax.
This contract comes within the framework of the company's efforts to supply steel pipes for Aramco's strategic projects. This step is part of the company's commitment to supporting the energy and infrastructure sector in the Kingdom of Saudi Arabia, thereby enhancing its role in achieving the goals of the Kingdom's Vision 2030.
It is expected that this contract will have a positive financial impact on the company's results during the coming financial periods. The company confirmed that the contract execution period extends for several months, reflecting the great confidence that Aramco places in national companies to execute its major projects.
East Pipes is considered one of the leading companies in the metal industries sector in the Kingdom, as it contributes effectively to providing the necessary products to support the growth of the national economy. This new collaboration underscores the continuation of strong partnerships between major Saudi companies to enhance local content.
In conclusion, this deal reflects the continued strong economic activity in the Kingdom of Saudi Arabia and emphasizes the importance of the industrial sector in driving national development and providing the technical and industrial solutions necessary for mega-projects.