Arabian Pipes Co. (APC) has been awarded a supply contract worth around SAR 27 mln (USD 7.19 mln) by Saudi Aramco, as stated in an announcement to Tadawul.
Under the terms of the contract, APC will provide steel pipes to Saudi Aramco over a period of seven months.
The pipe maker highlighted that the financial impact of the contract will be reflected in its Q1 2024 financial results.
APC is a manufacturer of ERW pipes and LSAW pipes, with an annual production capacity of 160,000 tons and 300,000 tons, respectively. ERW pipes have sizes ranging from 6 to 20 inches, while LSAW pipes have sizes ranging from 16 to 48 inches. The company has two factories located in Riyadh and Jubail.
1 USD / 3.75 SAR
