9,321.64 TRY BIST 100 BIST 100
5.27 CNY CNY CNY
44.06 EUR EUR EUR
38.20 USD USD USD
0.12 CNY CNY/EUR CNY/EUR
45.84 TRY Interest Interest
66.96 USD Fossil Oil Fossil Oil
40.44 USD Silver Silver
4.76 USD Copper Copper
99.35 USD Iron Ore Iron Ore
352.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,286.58 TRY Gold (gr) Gold (gr)

Saudi Aramco inks multibillion-riyal steel pipe contracts for infrastructure projects

Saudi Arabian Oil Company (Aramco) recently inked several significant contracts with two companies.

Saudi Aramco inks multibillion-riyal steel pipe contracts for infrastructure projects

Saudi Arabian Oil Company (Aramco) recently inked several significant contracts with two companies, Group Five Pipe and Integrated Pipes for Industry, to supply steel pipes for its projects. The combined value of these contracts exceeds 3.1 billion riyals.

Group Five Pipe secured two contracts with Aramco, totaling 1.48 billion riyals. These contracts involve the manufacturing and supply of spiral-welded steel pipes for one of Aramco’s projects.
East Integrated Pipe Company for Industry also signed multiple contracts with Aramco, worth more than 1.65 billion riyals. These contracts cover the manufacturing and supply of steel pipes.

Aramco is planning to raise up to $12 billion (approximately 44.8 billion Saudi riyals) by selling an additional share of its shares in the Saudi market.  This secondary offering comprises 1.545 billion shares, representing about 0.64% of the company’s issued share.

Last week, Middle eastern Gas Administrations Company marked two contracts with Aramco worth roughly 761 million riyals. These contracts involve engineering, supply, and construction work for the main gas network expansion project in the Kingdom.

These developments underscore Aramco’s commitment to its ongoing projects and its strategic partnerships with industry players. The steel pipe supply contracts play a crucial role in supporting Aramco’s infrastructure and energy initiatives.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

April prices fluctuated in Egypt's rebar market

Tuesday, April 22, 2025

Türkiye's consumer confidence index decreased again in April

Tuesday, April 22, 2025

EU supports Spain with 400 million euros in hydrogen production support

Tuesday, April 22, 2025

İsdemir to build a SPP worth TRY 701.6 million in Diyarbakır

Tuesday, April 22, 2025

Egypt and Saudi Arabia to cooperate on green energy

Tuesday, April 22, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now