Arabian Pipes Company bagged two steel pipes supply orders, worth USD 85.86 million from Aramco and USD 11.46 million from China Geo-Engineering Corporation’s Saudi branch. APC will supply pipes to Aramco for 10 months and to China Geo-Engineering Corporation’s Saudi branch for 7 months.
Jul 4, 2023
Arabian Pipes Company (APC) has signed supply contracts worth USD 85.86 million and USD 11.46 million with Saudi Arabian oil and gas company Aramco and China Geo-Engineering Corporation’s Saudi branch, respectively. Under the contracts, Arabian Pipes Company will supply pipes to Aramco for 10 months and to China Geo-Engineering Corporation’s Saudi branch for 7 months.
The financial impact of the contract on Aramco is expected to be reflected in the fourth quarter of 2023 and the second quarter of 2024, while the impact of the contract with China Geo-Engineering Corporation’s Saudi branch is predicted to be reflected in the first quarter of 2024.
