Welspun Corp announced that its associate company East Pipes Integrated Company for Industry (EPIC) has bagged an order worth approximately Rs 512 crore for manufacturing and supply of steel pipes. The duration of the contract, it said, is 30 months.
“We are pleased to inform you that our associate company East Pipes Integrated Company for Industry (EPIC), Saudi Arabia’s leading manufacturer of HSAW Pipes today announced contract sign off with Saline Water Conversion Corporation (SWCC) with value exceeding SAR 230 million (Approx. Rs 512 crore) for manufacturing and supply of steel pipes. The duration of the contract is 30 months,” the company said in a regulatory filing.
The financial impact of the contract, it added, will be reflected in the first quarter of financial year 2024-25 till the third quarter of financial year 2026-27.
EPIC is Saudi Arabia’s manufacturer of Helical Submerged Arc Welded (HSAW) pipes. Its fully integrated manufacturing facilities, a 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.
Earlier this month, Welspun Corp announced that it has received line pipe order, both in India and the US, cumulatively valued at Rs 2039 crore since its last disclosure on February 6, 2024. In a regulatory filing, the company had said that the new order in the US not only ascertain business continuity till Q2FY25 but also reaffirms the firm’s dominant position in the USA onshore gas transmission sector.