Welspun-Gujarat secures new orders worth Rs 700 Crores

Welspun-Gujarat Stahl Rohren Ltd has announced that the flagship Company of the $ 1 billion "Welspun Group" of India, has bagged prestigious orders worth Rs 700 Crs (USD 152 mn) for the supply of lines pipes for critical Oil and Gas Applications.

The LSAW and Spiral pipe order are largely received from US (Rs 450 Crores) and Iran (Rs 200 Crores). The new order from US is an evidence of the Welspun's unique dominance of the burgeoning US pipeline market having huge potential. These orders take the Welspun's current pending order book position to around Rs 1800 Crores.

Commenting on the order, Mr. B K Goenka Vice Chairman & Managing Director of the Welspun Group said "To have such privileged positioning in US (Pending orders worth Rs 685 Crores) is a sign of honor for Welspun and we look forward to a successful and mutually beneficially relationship in the years to come. These significant orders of considerable value from reputed international players, is a matter of pride for Indian Company and we owe these to our credo of 'Engineering Excellence'.

Source : Equity Bulls

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