Nov 11, 2023: Welspun Corp Ltd, one of the leading manufacturers of line pipes globally, has announced that its associate company, East Pipes Integrated Company for Industry (EPIC) in the Kingdom of Saudi Arabia (KSA) has signed a contract for the manufacturing and supply of large diameter steel pipes with Saudi Aramco. The total value exceeds SAR 440 million (Approx. INR 1000 crores) inclusive of value added tax.
The financial impact of this contract is expected to be reflected in the second and third quarter of the financial year 2024 – 2025. The duration of the contract is 13 months. This order is in addition to the announcement made by Welspun Corp in May 2023 for the landmark SAR 1.8 billion (Approx ~INR 4,000 crore) contract with Aramco.
EPIC is Saudi Arabia’s leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes. Its fully integrated manufacturing facilities, impeccable track record of execution of mega orders, quality and customer focused approach enables it to remain well-placed to secure further projects both in the Water and Oil & Gas sector and continue pioneering in supporting KSA’s strategic objectives under the Vision 2030.
+ There are no comments
Add yours