Saudi Steel Pipe inks SAR 105 mln contract with Uruguay’s Tenaris

Saudi Steel Pipe Co. (SSP) won contracts to supply steel pipes for oil and gas to Tenaris Global Service Co., Uruguay, at nearly SAR 105 million.

In a statement to Tadawul, Saudi Steel pointed out that pipes purchase orders are to be supplied within eight months, indicating that the deal’s financial impact is expected to reflect to the company’s results in the last quarter of the fiscal year 2023 and the first half of 2024.

Uruguay’s Tenaris Global Service is a related party, the statement noted.

Source : Argaam