Logo ofSaudi Steel Pipe Co. (SSP)
Saudi Steel Pipe Co. (SSP) signed today, a settlement agreement with the sellers of three land plots in Dammam, originally purchased in 2010. 
In a statement to Tadawul, Saudi Steel Pipe said that under the signed settlement, the land purchase transaction was canceled and nullified.
The sellers refunded the purchase price paid by SSP and compensated the company for damages, with the total amount reaching SAR 211 million in cash.
Saudi Steel Pipe said the financial impact of the settlement will be reflected in its second-quarter 2025 financial statements.
The company added that the sellers released Saudi Steel Pipe from any claims related to the land or ownership deeds and assumed all rights and obligations tied to the petition filed with the Ministry of Justice.
Saudi Steel Pipe clarified that the plots were not part of its production facilities.
Logo ofSaudi Steel Pipe Co. (SSP)
Saudi Steel Pipe Co. (SSP) signed today, a settlement agreement with the sellers of three land plots in Dammam, originally purchased in 2010.
In a statement to Tadawul, Saudi Steel Pipe said that under the signed settlement, the land purchase transaction was canceled and nullified.
The sellers refunded the purchase price paid by SSP and compensated the company for damages, with the total amount reaching SAR 211 million in cash.
Saudi Steel Pipe said the financial impact of the settlement will be reflected in its second-quarter 2025 financial statements.
The company added that the sellers released Saudi Steel Pipe from any claims related to the land or ownership deeds and assumed all rights and obligations tied to the petition filed with the Ministry of Justice.
Saudi Steel Pipe clarified that the plots were not part of its production facilities.
