Saudi Arabian Stock Exchange-listed (Tadawul) Arabian Pipes Company (APC) has been awarded a contract by the world’s largest oil producer, Saudi Aramco, to supply LSAW pipes, at a total value of $42.6m (SAR160m).
In a stock market filing, the company said that it will supply the pipes from its factory in Jubail Industrial City. The financial impact of the contract will reflect in Q3 and Q4 2020 results, the statement added.
Earlier in December 2019, Aramco had awarded APC a $46.4m (SAR174m) contract to supply steel pipes.
The company had said at that time, it will supply OCTG steel pipes from its Riyadh factory under the contract, which was signed for a period of 18 months.
The news comes just months after APC had won a similar steel pipes supply contract from Saudi Aramco valued at $11.5m (SAR43m), with the contract being signed for a 10-month period.