Saudi Arabia’s Arabian Pipes Company (APC) has successfully secured two pipe supply contracts, as stated in the company’s filing to the bourse.
APC has been awarded a contract valued at approximately SAR 322 mln (USD 85.7 mln) by Saudi Aramco for the supply of steel pipes over a period of 10 months. The contract, signed on June 26, will have a financial impact reflected in the company’s financial results from Q4 2023 until Q2 2024.
Additionally, APC has signed a supply contract worth around SAR 43 mln (USD 11.4 mln) with China Geo-Engineering Corporation (CGC) Saudi Branch. Under this agreement, APC will provide steel pipes to CGC over a duration of seven months. The financial impact of this contract will be evident in the company’s Q1 2024 financial results.
APC is a manufacturer of ERW pipes and LSAW pipes with an annual manufacturing capacity of 160,000 tons and 300,000 tons, respectively. The ERW pipes range in size from 6 to 20 inches, while the LSAW pipes range from 16 to 48 inches. The company operates two factories situated in Riyadh and Jubail.
1 USD / 3.75 SAR
