Saudi Steel Pipe Company (SSP) announced that it has won two contracts for the supply of OCTG steel pipes to Saudi Aramco worth SR250 million, according to Tadawul website.
The two deals are the continuation of the contracts that were struck in 2012 and the first half of 2013, and the work is under way to produce and deliver pipes on a monthly basis.
Pipes will be produced for these new contracts by the end of the second quarter of next year and until the fourth quarter of 2014.
“The financial impact will be positive for this contract during the second half of 2014,” the SSP stated, adding that the raw material will be supplied locally from Saudi Iron and Steel Company (Hadeed), SABIC (Saudi Basic Industries Corp.).Â
