Welspun Corp Limited's associate company in Saudi Arabia inks contract worth SAR 230 Mn

Welspun Corp Limited's associate company East Pipes Integrated Company for Industry (EPIC), Saudi Arabia's leading manufacturer of HSAW Pipes today announced contract sign off with Saline Water Conversion Corporation (SWCC) with value exceeding SAR 230 million (Approx. Rs 512 crore) for manufacturing and supply of steel pipes. The duration of the contract is 30 months.

The financial impact of the contract will be reflected in 1st quarter of financial year 2024/2025, till 3rd quarter of financial year 2026/2027.

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.

Shares of Welspun Corp Limited was last trading in BSE at Rs. 535.95 as compared to the previous close of Rs. 524.35. The total number of shares traded during the day was 92407 in over 1477 trades.

The stock hit an intraday high of Rs. 544.90 and intraday low of 516.05. The net turnover during the day was Rs. 49715777.00.

Source : Equity Bulls

Keywords

WelspunCorp INE191B01025 EastPipesIntegratedCompany OrderWin SalineWaterConversionCorporationn