Welspun Corp receives multiple orders of approximately 164 KMT worth Rs1,725cr

With these orders, the Company’s order book stands at 525 KMT valued at approximately Rs4,800cr, after considering execution up to May 2021.

Jun 08, 2021 05:06 IST India Infoline News Service

Welspun Corp
Welspun Corp on Tuesday announced that the company has received multiple orders of approximately 164 KMT valuing close to Rs1,725cr. The orders include reinstatement of an offshore sour pipes supply contract in Australia.

In its regulatory filing, on Tuesday, Welspun said, "We are pleased to inform that since our last announcement, we have received multiple
orders of approximately 164 KMT valuing close to INR 1,725 Crore. These include reinstatement of an offshore sour pipes supply contract (270 km / 87 KMT) in Australia for the Barossa Offshore Development Project."

"We had received this order last year, as communicated on March 11, 2020, however, the same was subsequently deferred by the customer due to delay in Final Investment Decision (FID) as communicated through our announcement dated March 27, 2020," Welspun said.

After the recent FID of the project, Welspun stated that the customer has given a go-ahead to Welspun for the execution of the Contract.

The majority of the orders mentioned above will be executed from Welspun's facilities in India.

With these orders, the Company’s order book stands at 525 KMT valued at approximately Rs4,800cr, after considering execution up to May 2021.

On Sensex, Welspun closed at Rs154.90 per piece down by 0.5%. 

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