11
Jul
15:57
Saudi Steel Pipe wins $65m Aramco contract
Saudi Steel Pipe (SSP) has won a SAR 245 million ($65.3m) contract to supply Saudi Aramco with various diameters of welded pipe, Kallanish learns from the Saudi pipemaker. Production will begin in the fourth quarter.
SSP saw revenue fall -30.3% on-year in the first quarter to SAR 135.35m due mainly to reduced project-based deliveries and lower shipments of commercial pipe (see Kallanish 10 May). Net profit, however, rose 19.8% to SAR 10.21m.
Dammam-…
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Very good overview of the weekly steel market.
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