Welspun Corp's associate company in KSA bags SAR 324 mn contract

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 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.

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.

Shares of Welspun Corp Limited was last trading in BSE at Rs. 210.85 as compared to the previous close of Rs. 213.65. The total number of shares traded during the day was 36245 in over 1256 trades.

The stock hit an intraday high of Rs. 215.50 and intraday low of 209.65. The net turnover during the day was Rs. 7669709.00.

Source : Equity Bulls

Keywords

WelspunCorp INE191B01025 OrderWin SaudiArabia SteelPipes