Group Five pens SAR 34M contract with Aramco

03/01/2024 Argaam

Group Five pens contract with Aramco worth over SAR 34M

Logo of Group Five Pipe Saudi Co.

Group Five Pipe Saudi Co. signed a contract with Saudi Arabian Oil Co. (Saudi Aramco) at a value that exceeds SAR 34 million (VAT inclusive).

 

The deal includes manufacture and supply of spiral-welded steel pipes tailored for one of the projects owned by Saudi Aramco in the Eastern Region, the company said in a statement to Tadawul.

 

Signed on Jan. 2, the contract has a term of two months, with financial impact expected to materialize starting from Q3 2024, the statement added.

 

No related parties are included in the deal, the company indicated.

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