Welspun Corp associate company inks Rs 3,670 crore deal with Aramco for steel pipe supply – ET Infra

MUMBAI: The Saudi Arabian Oil Co. (Aramco) and its own Welspun Corp Ltd. announced on Monday that their partner company EPIC had signed several contracts worth SAR 1.65 billion, or roughly Rs 3,670 crore, for the delivery of steel pipes.

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 FY25 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 Rs 3,670 crore) inclusive of value added tax for manufacturing and supply of steel pipes,” it said.

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

  • Published On Jun 3, 2024 at 03:27 PM IST

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