Riyadh – Mubasher: Group Five Pipe Saudi Company sealed an agreement worth SAR 36.87 million with Civil Works Company LTD on 21 December 2022, according to a bourse filing.
The 365-day contract covers the manufacturing and supply of spiral-welded carbon steel pipes to enhance the water quality in the Northern region of Dammam.
Meanwhile, the water project, which is expected to be completed before the end of the fourth quarter (Q4) of 2023, is owned by the National Water Company (NWC).
Group Five Pipe Saudi indicated that the deal will reflect positively on its income statements starting from Q1-23 until Q4-23.
Last November, the Tadawul-listed firm and Bin Omairah Contracting Company inked a SAR 42.15 million agreement.
