Saudi Steel Pipe wins SAR 88 mln supply contracts from Uruguay’s Tenaris

29/08/2022 Argaam

Logo of Saudi Steel Pipe Co.

Saudi Steel Pipe Co. (SSP) was awarded today, Aug. 29, contracts to supply steel pipes for oil and gas to Tenaris Global Services in Uruguay, at an estimated value of SAR 87.8 million.

 

The contracts were signed today and the pipes will be supplied over five months, the company said in a bourse statement.

 

The relevant financial impact is expected to show in Q4 2022 and Q1 2023.

 

This award is the second this year, as the steel pipe manufacturer on July 31 bagged contracts to supply steel pipes for oil and gas to Tenaris at an estimated value of SAR 94.7 million. The combined value of both contracts stands at SAR 182.5 million.

 

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