Welspun Corp Subsidiary Lands Major Deal to Provide Steel Pipes to Aramco

3 Jun 2024 , 01:23 PM

Welspun Corp Ltd. announced on Monday that Saudi Arabian Oil Co. (Aramco) and its associate firm EPIC had inked several agreements for the delivery of steel pipes totaling SAR 1.65 billion, or roughly ₹3,670 Crore. Welspun Corp stated in an exchange filing that the contracts have a 19-month term and that their financial effects will be felt from the fourth quarter of the fiscal year 2024–2025 to the final quarter of the fiscal year 2025–2026.

“Our associate company East Pipes Integrated Company for Industry (EPIC) today announced multi contracts sign off with Saudi Arabian Oil Co. (Aramco) with value exceeding (Saudi Riyal) SAR 1.65 billion (approximately ₹3,670 Crore) inclusive of value added tax for manufacturing and supply of steel pipes,” it read.

According to Welspun Corp, EPIC is the top producer of helical submerged arc welded (HSAW) pipes in Saudi Arabia.

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