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Company News, Business

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

East Pipes, Aramco sign $480m contract

The positive results were driven by a 141 percent year-on-year surge in revenue. (East Pipes)
By Hilal Mir
May 22, 2023 6:07 pm
  • East Pipes said the financial impact of the 12-month contract will show in the second half of 2023 and the first quarter of 2024.
  • On 14 May, the company signed a contract with Abdullah Ibrahim Al Sayegh & Sons, valued at SAR81 million, for supplying steel pipes to the firm.

Dubai, UAE — East Pipes Integrated Company for Industry said Monday that it will manufacture and supply pipes for various projects of the energy giant Aramco under an SAR 1.8 billion ($480 million) contract signed between the two firms.

In a Tadawul disclosure, East Pipes said the financial impact of the 12-month contract will show in the second half of 2023 and the first quarter of 2024.

There are no related parties to the deal, the company added.

On 14 May, the company signed a contract with Abdullah Ibrahim Al Sayegh & Sons, valued at SAR81 million, for supplying steel pipes to the firm.

It said the impact of the five-month contract will reflect in the second half of this year.

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