31
May
20:18
East Pipes bags water order amid post-pandemic rebound
East Pipes Integrated Company for Industry has signed a deal worth SAR 490 million (130.7m), including VAT, to supply water transmission pipe to Saline Water Conversion Corporation (SWCC).
The project will span a period of 12 months with the financial impact reflecting in East Pipes’ financial statements in 2022/2023, the Saudi pipemaker says.
This follows the award of a SAR 497m contract in March, for a project of a similar nature, also by SWCC.
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Very good overview of the weekly steel market.
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