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Company announced East Pipes Integrated Industry Today, suspension and cancellation of a contract with the Saudi Arabian Oil Company (Aramco) with a value of 153 million riyals, indicating that this comes at the request of Aramco.
The company said in a statement on Tadawul that it agreed to stop and cancel the contract because there is no financial impact that would affect its performance, and that is because the contract was not included in the company’s production schedules during the current fiscal year.
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She added that according to the company’s plans, the raw materials related to the contract have not been purchased yet, and the cancellation does not affect operating plans during the period scheduled for implementation.
According to the data available on numbersLast November, East Integrated Pipe Company for Industry announced the signing of a contract for manufacturing and supplying steel pipes with Saudi Aramco at a value exceeding 153 million riyals, including value-added tax.
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