Construction Industry News
Welspun Corp has announced that its sister company, East Pipes Integrated Company for Industry (EPIC) in the Kingdom of Saudi Arabia (KSA), has signed a contract for the production and supply of large diameter steel pipes with Saudi Aramco. The total value exceeds SAR 440 million (approximately Rs 1,000 million), including value added tax.
The financial impact of this contract is expected to be reflected in the second and third quarters of fiscal year 2024 - 2025. The duration of the contract is 13 months. This order comes in addition to the announcement made by Welspun Corp in May 2023 for the landmark contract worth SAR 1.8 billion (approximately ~ Rs 4,000 crore) with Aramco.
EPIC is the leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes in Saudi Arabia. Its fully integrated production facilities, impeccable record of mega order execution, quality and customer-centric approach ensure that the company remains well positioned to win more projects in the water, oil and gas sector, and continue being a pioneer in supporting KSA's strategic objectives. objectives under Vision 2030.
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