Saudi Steel Pipe, a pipe manufacturer, announced that its subsidiary Global Pipe has signed an $80 million contract to supply linear pipes for the offshore development project of the British engineering company Subsea 7.
In a notice to the Saudi stock exchange Tadawul, the steel pipe manufacturer stated that the contract is valid for 11 months and that the total value of the contract is 300 million riyals ($80 million).
Saudi Steel Pipe noted that the financial implications of the contract are expected to be reflected in the fourth quarter of 2026.
