Saudi oil and gas giant Aramco has placed an order worth SR 60 million ($16 million) to supply steel pipes to domestic Arabian Pipes Co.
The Riyadh-based pipemaker told Saudi stock exchange Tadawul that the contract will be valid for one year.
Arabian Pipes expects the transaction to impact its financial statements from the second quarter of 2023.
This comes in addition to the two contracts awarded by Aramco to Arabian Pipes so far this year, worth a total of SR 368 million.
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