Welspun Corp's associate company bags SAR 324 million contract in Saudi Arabia

15 Jul 2022 , 10:01 AM

Welspun Corp Ltd’s associate company, East Pipes Integrated Company for Industry (EPIC) in the Kingdom of Saudi Arabia (KSA), has been awarded with a contract by SWCC for manufacture and supply of steel pipes, the company informed on Thursday.

As per the regulatory filing, the contract is valued at SAR 324 million (approximately) including value added tax & the same will be executed in this financial year.

“This is in addition to the recent award of an SAR 490 million contract in May 2022 and SAR 497 million contract in March 2022, both of which were also awarded by SWCC”, the company said.

EPIC is Saudi Arabia’s leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes with an impeccable quality & on time delivery track record.

The technological know how & abilty to seamlessly execute large projects positions them as the largest and most respected pipe company in KSA and is the most preferred supplier for projects both in the Water and Oil & Gas sector.

At around 10:02 AM, Welspun Corp was trading at Rs209.85 per share up by Rs0.3 or 0.14% from its previous closing of Rs209.55 per share on the BSE.