Arabian Pipes signs SAR 43 mln supply contract from CGC

02/07/2023 Argaam
Logo ofArabian Pipes Co.

Logo of Arabian Pipes Co.

Arabian Pipes Co. (APC) inked, on June 25, a supply contract worth around SAR 43 million from China Geo-Engineering Corporation (CGC) Saudi Branch, according to a statement to Tadawul.

 

As per the contract, Arabian Pipes will supply steel pipes to CGC Aramco over a period of seven months.

 

The pipe maker pointed out that the financial impact of the contract will show up in Q1 2024 financial results.

 

There are no related parties to this deal, the statement added.

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