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

News

Group Five Pipe snaps up key Saudi supply contract

07/04/2026

Group Five Pipe Saudi Company has announced that it has secured a SAR176 million ($47 million) supply contract from Esnad Al Turuq Contracting Company for a major project at Ras Al Khair in Riyadh.

Trade Arabia

Most Viewed Companies

Ticker Price Volume

Valuation

GROUPFIVE Sector Market
P/E
Price/BookValue

Top Related Companies

Ticker Price Change
MAADEN 62.05 3.05 (5.16%)
SABIC 55.75 0.45 (0.81%)
SABICAGRINUTRIENTS 126.60 -0.60 (-0.48%)
LUBEREF 123.00 -7.00 (-5.39%)
YANSAB 30.10 -1.00 (-3.22%)

Recent News

OMIFCO begins IPO roadshows

16/06/2026

Oman India Fertiliser Company (OMIFCO), whose initial public offering (IPO) opens for public subscription on Tuesday, has begun a series of investor roadshows across the sultanate, with the first eve

Muscat Daily

Seef Mall revitalisation project awarded to Mohammed Jalal Contracting

16/06/2026

Bahrain-based Seef Properties has signed an agreement with Mohammed Jalal Contracting to execute the main construction works within the Seef Mall - Seef District redevelopment project.

The

Trade Arabia

Sustainable Fitch confirms QIIB's strong commitment to sustainability standards with QR2.85bn in eligible finance

15/06/2026

Qatar International Islamic Bank (QIIB) has announced that global sustainability ratings agency Sustainable Fitch has issued its post-issuance review relating to the allocation disclosure for the pro

Gulf Times

QAMCO announces end of marketing and offtake arrangements of Qatalum's production

15/06/2026

Qatar Aluminium Manufacturing Company (QAMCO), which owns a 50% stake in Qatar Aluminium Company (Qatalum), announced that the marketing and offtake arrangements with Hydro Aluminium AS, acting as Qa

Gulf Times

Kuwait Airways launches first commercial flights to Greece's Mykonos

15/06/2026

Kuwait Airways on Sunday launched its first commercial flights to the Greek island of Mykonos, operating twice-weekly services on Sundays and Thursdays as part of its 2026 summer schedule.

A

Gulfnews

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