Group Five pens contract with Aramco worth over SAR 34M

Group Five Pipe Saudi Co. signed a contract with Saudi Arabian Oil Co. (Saudi Aramco) at a value that exceeds SAR 34 million (VAT inclusive).

The deal includes manufacturing and supplying spiral-welded steel pipes tailored for one of the projects owned by Saudi Aramco in the Eastern Region of the Kingdom, the company said in a statement to Tadawul.

Signed on Jan. 2, 2024, the contract has a term of two months, with financial impact expected to materialize starting from Q3 2024, the statement added.

No related parties are included in the deal, the company indicated.