Welspun’s EPIC bags Rs. 3,000 crore orders from Aramco and SWCC
General

Welspun’s EPIC bags Rs. 3,000 crore orders from Aramco and SWCC

The company also received order for manufacturing and supply of steel pipes to Aramco with value of Rs. 339 crores

  • By ICN Bureau | January 18, 2024

Welspun Corp's associate company, East Pipes Integrated Company for Industry (EPIC) in Saudi Arabia has received cumulative orders of approx. Rs. 3,000 crores from its last announcement dated 10th November, 2023.

EPIC received order for supply of steel pipes to Saline Water Conversion Corporation (SWCC) with value approx. Rs. 2,200 crores 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 company also received order for manufacturing and supply of steel pipes to Saudi Arabian Oil Co. (Aramco) with value of Rs. 339 crores 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.

Also, order for double jointing and coating of steel pipes to Aramco with value Rs. 377 crores inclusive 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.

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


Register Now to Attend AVEVA Industry 4.0 & Digitalization in Chemicals on Wednesday, 13th March 2024, Hotel Hyatt Place, Bharuch, Gujarat

Other Related stories

Startups

Chemical

Petrochemical

Energy

Digitization