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.
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