Riyadh-Mubasher: Arabian Pipes Co. plans to obtain the approval of Saudi Aramco on the pipe threading line installed in the company's Riyadh plant, according to the board's report for 2015.
The company also aims to foray into new markets, in addition to signing strategic agreements with raw material suppliers and studying investment opportunities locally and overseas.
In 2015, the pipe manufacturer had signed a supply agreement with Aramco at a total value of SAR 174 million, and the manufacturing and supply will start in 2016.
The company posted net losses of SAR 21.8 million for the fourth quarter of 2015, compared with SAR 20.3 million in the same period a year before, a rise of 8%.
