Group Five Pipe secures $1.2bn Saudi contracts

07/06/2024 06:53 AST

Group Five Pipe Saudi Company has inked significant contracts worth SAR4.48 billion ($1.2 billion) with two major Saudi entities-Aramco and the Saline Water Conversion Corporation (SWCC)-to supply spiral-welded steel pipes for key projects, reports Trade Arabia.

Under the SAR1.48 billion deal with Aramco, Group Five Pipe will manufacture and supply spiral-welded steel pipes for one of Aramco's crucial projects. The contract, detailed in a filing to the Saudi bourse Tadawul, will be executed over 12 months. The financial impact of this agreement is expected to be reflected starting from the third quarter of the fiscal year 2025.

This contract follows closely on the heels of a SAR3 billion order from SWCC for the Ras Al Khair Water Transportation System Project. This project involves the supply of spiral-welded steel pipes to transport water from Ras Al Khair to Riyadh. Group Five Pipe announced that the work on this contract will be completed within 22 months, with financial effects beginning to show from the third quarter of the fiscal year 2024.


Smartwatermagazine.com

Most Viewed Companies

Ticker Price Volume

Valuation

GROUPFIVE Sector Market
P/E

Top Related Companies

Ticker Price Change
MAADEN 65.70 0.30 (0.45%)
SABIC 60.05 0.50 (0.83%)
SABICAGRINUTRIENTS 149.90 0.00 (0.00%)
YANSAB 36.20 0.30 (0.83%)
LUBEREF 108.10 -1.70 (-1.55%)

Recent News

Ooredoo reinforces continuous connectivity for businesses with Starlink satellite solution

06/04/2026

Ooredoo continues to strengthen its ability to support uninterrupted business operations with always-on connectivity solutions, including advanced satellite capabilities, amid growing demands for rel

Gulf Times

Valmore Holding General Assembly approves distribution of $53m in cash dividends

06/04/2026

Valmore Holding announced the convening of its Ordinary General Assembly on April 2, 2026. Ordinary General Assembly approved the financial statements for the fiscal year ending December 2025, which

Kuwait Times

Boursa Kuwait approves 2025 results and authorizes cash dividends of over KD 25.5m

06/04/2026

Boursa Kuwait held its ordinary general assembly meeting for the year 2025 on Sunday, April 5, 2026, chaired by Chairman Bader Nasser Al-Kharafi, with an attendance rate of 70.31 percent of sharehold

Kuwait Times

Emirates NBD gets RBI nod for $3 billion RBL Bank deal

06/04/2026

Emirates NBD has secured green light to move ahead with its planned acquisition of a majority stake in India's RBL Bank, setting the stage for one of the largest cross-border deals in the country's b

Gulfnews

Oman's Islamic bank Nizwa names Acting CEO

06/04/2026

Bank Nizwa, a key Islamic bank in Oman, has announced the appointment of Tariq Atiq as its Acting CEO. This leadership transition reflects the bank's forward-looking strategy and underscores its conf

Trade Arabia

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap