Amiantit signs SAR 89.5M contract to supply pipes

Logo of Saudi Arabian Amiantit Co.

Saudi Arabian Amiantit Co. signed, on Oct. 13, a contract with Rawabet Al Hamroor Co. worth SAR 89.45 million (including VAT), to supply pipes, according to a statement to Tadawul.

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The 32-month contract includes supplying pipes for the second phase of the National Water Co.’s project of drilling wells and expanding the water network in Najran.

The related financial impact is expected to be reflected as of Q1 2025, the statement noted, adding that there are no related parties to the deal.