According to the company's statement on the Saudi Stock Exchange, the local pipe manufacturer East Pipes Integrated Company for Industry (East Pipes) has entered into a major supply agreement with the Saudi Arabian Water Authority worth more than 485 million Saudi riyals ($129.3 million).
The agreement covers the production and supply of steel pipes for six months.
East Pipes stated that the financial implications of this contract will be reflected in two reporting periods: the fourth quarter of fiscal year 2025-26 and the first quarter of fiscal year 2026-27.
