26
Mar
06:44
Saudi’s G5PS signs record steel tube contract
Saudi Arabian pipemaker Group Five Pipe Saudi (G5PS) has sealed a record-high-value contract with Saline Water Conversion Corporation (SWCC) to supply welded spiral steel pipe for water transportation. The deal is worth an impressive SAR 3 billion ($800m), including VAT, notes Kallanish.
The pipes are needed to bring water from Ras-Al Khair on the east coast to Riyadh, G5PS says in a stock exchange filing.
No third parties are involved in the agreement and t…
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Anonymous
Very good overview of the weekly steel market.
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