Welspun Corp’s associate company, EPIC, signs contract for manufacturing and supply of large diameter steel pipes with Saudi Aramco
Welspun Corp Ltd, one of the leading manufacturers of line pipes globally, has announced that its associate company, East Pipes Integrated Company for Industry (EPIC) in the Kingdom of Saudi Arabia (KSA) has signed a contract for the manufacturing and supply of large diameter steel pipes with Saudi Aramco. The total value exceeds SAR 440 million (Approx. INR 1000 crores) inclusive of value added tax.
The financial impact of this contract is expected to be reflected in the second and third quarter of the financial year 2024 – 2025. The duration of the contract is 13 months. This order is in addition to the announcement made by Welspun Corp in May 2023 for the landmark SAR 1.8 billion (Approx ~INR 4,000 crore) contract with Aramco.
EPIC is Saudi Arabia’s leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes. Its fully integrated manufacturing facilities, impeccable track record of execution of mega orders, quality and customer focused approach enables it to remain well-placed to secure further projects both in the Water and Oil & Gas sector and continue pioneering in supporting KSA’s strategic objectives under the Vision 2030.
About Welspun Corp
Welspun Corp Ltd (WCL) is the flagship company of Welspun Group, one of India’s fastest-growing multinationals with a leadership position in line pipes and home solutions, along with other lines of businesses in pipe solutions, building materials, infrastructure, warehousing, retail, advanced textiles, and flooring solutions.
WCL is one of the largest manufacturers of large diameter pipes globally and has established a global footprint across six continents and fifty countries by delivering key customized solutions for both onshore and offshore applications. The company also manufactures BIS-certified Steel Billets, TMT (Thermo-Mechanically Treated) Rebars, Ductile Iron (DI) Pipes, Stainless Steel Pipes, and Tubes & Bars. The company has state-of-the-art manufacturing facilities in Anjar (Gujarat), Bhopal (Madhya Pradesh), Mandya (Karnataka) and Jhagadia (Gujarat) in India. Overseas, WCL has a manufacturing presence in Little Rock, Arkansas, USA.
WCL’s expansion entails creating a diversified product portfolio and repurposing its business to add new target segments, organically and inorganically. The company has acquired Sintex-BAPL, a market leader in water tanks and other plastic products, to expand its building materials portfolio. It has also acquired specified assets of ABG Shipyard with a potential to enter ship recycling and repair.