Welspun Corp’s associate company East Pipes Integrated Company for Industry (EPIC) in the Kingdom of Saudi Arabia (KSA) has received cumulative orders worth over ₹3,000 crore.
As per the regulatory filing, company has received order for manufacturing and supply of steel pipes to Saline Water Conversion Corporation (SWCC), valued at ₹2,200 crore. The duration of the contract is 30 months.
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It has also bagged an order from Saudi Arabian Oil Co. (Aramco) for manufacturing and supply of steel pipes, valued at ₹339 crore. The duration of this contract is 8 months. Another order for double jointing and coating of steel pipes to Aramco with value ₹377 crore. The duration of the contract is 20 months.
Welspun Corp stock rose by 1.33 per cent on the NSE, traded at ₹577.95 as of 10:03 am.