Welspun Corp announces Rs 1,000cr steel pipe contract with Saudi Aramco
Welspun Corp Limited has disclosed that its associate, East Pipes Integrated Company for Industry (EPIC), in Saudi Arabia, has secured a significant contract for manufacturing and supplying large diameter steel pipes. The deal, struck with the oil giant Saudi Aramco, is valued over SAR 440 million, approximately INR 1000 crores, inclusive of value-added tax, set to impact the financials in the second and third quarters of FY 2024/2025.
EPIC Strengthens Position in KSA with Aramco Contract
The duration of this contract spans 13 months, signaling a steady flow of revenue for EPIC. This new contract supplements the previously announced SAR 1.8 billion (approx. INR 4000 crore) agreement with Saudi Aramco, marking a period of significant business growth for EPIC.
EPIC Enhances Manufacturing Presence with Aramco Steel Pipe Deal
As Saudi Arabia’s premier manufacturer of Helical Submerged Arc Welded (HSAW) pipes, EPIC’s full integration of manufacturing capabilities and a strong history of executing large-scale orders, place it at the forefront of the industry. This new agreement underlines EPIC’s commitment to quality and positions it advantageously for future projects.
Welspun Corp wins Rs 1,000cr steel pipe contract from Saudi Aramco
Supporting Saudi Arabia’s Vision 2030 with Key Infrastructure Supplies
Through this contract and its robust manufacturing presence, EPIC continues to support Saudi Arabia’s Vision 2030, contributing to the country’s strategic infrastructure objectives in both the Water and Oil & Gas sectors.
About Welspun Corp and EPIC:
Welspun Corp, with its associate EPIC, reinforces its stance as a key contributor to infrastructure projects, in line with Saudi Arabia’s developmental goals. This partnership exemplifies their collaborative efforts to drive significant industry advancements.