Saudi Steel Pipe Company announces that one of its affiliates Global Pipes Company has won the contract, on Sunday 31 August 2014, to manufacture and supply 32 inch Pipes for Saudi Aramco. The project is worth more than 292 million Riyals. These pipes will be used to transport gas and liquefied natural gas. This contract is the first direct endorsement of Saudi Aramco to Saudi Steel Pipe Company's affiliate, Global Pipes Company. The financial impact of this contract will be reflected during the fourth quarter of year 2014 and the first half of the year 2015
The financial impact on Saudi Steel Pipe Company's results will be reflected during the same periods.