February 21, 2024

Welspun Corp’s associate arm EPIC bags Rs 3,000 crore orders in Saudi Arabia

Homegrown Welspun Corp on Thursday said its associate company East Pipes Integrated Company for Industry (EPIC) has received orders worth around Rs 3,000 crore in Saudi Arabia.

“Associate company East Pipes Integrated Company for Industry in the Kingdom of Saudi Arabia (KSA) has received cumulative orders exceeding (Saudi Riyal) SAR 1.32 billion (Rs 3,000 crore),” Welspun Corp said in a statement.

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The new orders include supply of steel pipes to Saline Water Conversion Corporation (SWCC) with value exceeding SAR 1 billion (Rs 2,200 crore) inclusive of value added tax for manufacturing and supply of steel pipes.

Another order for manufacturing and supply of steel pipes to Saudi Arabian Oil Co. (Aramco) is worth over SAR 153 million (Rs 339 crore) inclusive value of added tax.

The order for double jointing and coating of steel pipes to Aramco has a value exceeding SAR 170 million (Rs 377 crore) inclusive of value added tax.

EPIC is Saudi Arabia’s leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes.

Welspun Corp Ltd (WCL) — the flagship company of Welspun Group — is one of the largest manufacturers of large diameter pipes globally and has established a global footprint across six continents and 50 countries.