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Welspun Corp’s Associate Firm Wins Rs 30bn Orders

Welspun Corp Limited said its associate company East Pipes Integrated Company (EPIC) in the Kingdom of Saudi Arabia won orders worth Rs 30 billion.

 

Welspun Corp said the first order related to supply of steel pipes to Saline Water Conversion Corporation (SWCC) with value exceeding Rs 22 billion inclusive of value added tax for manufacturing and supply of steel pipes. The financial impact of the above contract will be reflected in 1st quarter of financial year 2024/2025 till 2nd quarter of financial year 2026/2027. The duration of the contract is 30 months.

 

The second order relates to manufacturing and supply of steel pipes to Saudi Arabian Oil Co. (Aramco) with value exceeding Rs 3.39 billion inclusive value added tax. The duration of this contract is 8 months and the financial impact of this will be reflected in Quarters 1 and 2 in financial year 2024/2025.

 

The third order is for double jointing and coating of steel pipes to Aramco with value exceeding Rs 3.77 billion inclusive of value added tax. The duration of the contract is 20 months. The financial impact of the above contract will be reflected in 1st Quarter of financial year 2024/2025 till 2nd Quarter of financial year 2025/2026.

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