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Saudi Steel Pipe Secures USD 25 Million Contract with Tenaris Global

In March this year, Saudi Steel Pipe signed a deal with Tenaris Global Services for the supply of steel pipes for the oil & gas sector.

Saudi Steel
Image Source: Saudi Steel Pipe Company

Saudi Steel Pipe Company (SSPC), Saudi Arabia’s premier manufacturer of welded steel pipes, has concluded their contract with Uruguay-headquartered Tenaris Global Services. The deal was about supplying oil and gas steel pipes to Tenaris.

The contract, worth Saudi Riyal (SR) 94.7 million (USD 25.19 million), is expected to project a financial impact during the second half of this year, the company stated in a stock exchange (bourse) filing.

It was during March this year that SSPC entered into an agreement with Tenaris Global Services for the provision of steel pipes for the oil & gas sector, which have supposedly been valued at SR 139 million (USD 36.97 million).

Also Read: Tenaris Takes Over Steel Pipe Producer Benteler

In 2019, Tenaris which is a leading supplier of tubes for the energy sector and other applications announced the acquisition of 47.79 percent of the shares in SSPC. Thereby, it rebranded Saudi Steel Pipes Company to TenarisSaudiSteelPipes following the integration of SSPC into the global commercial and industrial network of Tenaris.

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