Economy
Saudi pipe producer secures $25m steel pipe contract with Uruguay’s Tenaris
Follow-ups -eshrag News:
Sun, 2022-07-31 16:59
RIYADH: The Saudi Steel Pipe Co. has completed a deal to supply oil and gas steel pipes to Uruguay’s Tenaris Global Services.
The deal, which is valued at SR94.7 million ($25 million), is expected to have a financial impact in the second half of this year, the company said in a bourse filing.
In March, Saudi Steel signed a deal with Uruguay’s Tenaris Global Services to supply it with oil and gas steel pipes valued at SR139 million ($37 million).
In Sunday’s trading, Saudi-based pipe manufacturers closed up 0.46 percent, at SR22.08.
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