Saudi Steel Pipe Company announced that its subsidiary, Global Pipe Company, whose financial results are consolidated, has signed a supply contract valued at approximately SAR 300 million (USD 80 million) with Subsea Seven Saudi Limited.
In a statement filed on Wednesday with the Saudi Stock Exchange Tadawul, the company said the agreement covers the supply of pipes for an offshore redevelopment project. The contract was signed on January 28, 2026, and has a duration of 11 months.
Under the terms of the agreement, Global Pipe Company will supply specialised line pipes designed to meet demanding offshore conditions and stringent technical specifications. Saudi Steel Pipe Company noted that the order highlights the company’s advanced manufacturing capabilities, technical expertise, and compliance with international quality standards.
The contract, whose financial impact is expected to be reflected in the fourth quarter of fiscal year 2026, is viewed as part of Saudi Pipes’ growth strategy focused on high value-added energy and infrastructure projects.
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