East Pipes Integrated Company for Industry has approved a capital investment of approximately SAR 33.6 mln (USD 8.95 mln) for the acquisition of strategic material handling assets, the company said in a disclosure to the Saudi Exchange.
The investment aims to enhance material handling capacity, develop logistical infrastructure and optimize operating costs across the company’s operations. Contracts for the supply of equipment will be concluded with one or more suppliers, the company said.
Founded in 2010, East Pipes operates a helical spiral arc welded (HSAW) pipe plant in Dammam with an annual capacity of 500,000 tons. The facility can produce pipes up to 18.2 meters long, with wall thicknesses of 6-25.4 mm, diameters of 20-100 inches, and grades up to API X80.
1 USD / 3.75 SAR
