Riyadh – Mubasher: Arabian Pipes Company (APC) announced that it has been awarded a SAR 174 million order for the supply of steel pipes to the Saudi Arabian Oil Company (Saudi Aramco).
Arabian Pipes will supply OCTG Steel pipes for Saudi Aramco from its Riyadh factory, expecting the impact of the 1.5-year deal to reflect on its financial results starting from the fourth quarter (Q4) of 2020 until Q3-21.
APC achieved a net profit of SAR 9.2 million in Q3-19, against a net loss of SAR 16.8 million in the corresponding quarter last year.
