09
Nov
16:19
Saudi Steel Pipe bags $29m Aramco order
Saudi Steel Pipe (SSP) has won a contract to supply SAR 110 million ($29.33m) of welded casing pipe to Saudi Aramco. Hot rolled coil feedstock will be sourced from Saudi steelmaker Sabic. The financial impact of this contract will be felt in the second and third quarters of 2017.
SSP reported a -32% on-year decline in revenue in Q3 2016 to SAR 122.61 million (see Kallanish 20 October). Net profit dropped -28% to SAR 5.77m due to decreased project-based deliverie…
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Anonymous
Very good overview of the weekly steel market.
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