East Pipes Integrated Company for Industry signs multi contracts with Aramco

Welspun Corp Limited's associate company East Pipes Integrated Company for Industry (EPIC), Saudi Arabia's leading manufacturer of HSAW Pipes today announced Multi Contracts sign off with Saudi Arabian Oil Co. (Aramco) with value exceeding SAR 1.65 Billion (Approx. ~INR 3,670 crores) inclusive of value added tax for manufacturing and supply of steel pipes. The duration of the contracts is 19 months.

The financial impact of the contracts will be reflected from 4th Quarter of financial year 2024/2025 to 4th Quarter of financial year 2025/ 2026.

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. 549.45 as compared to the previous close of Rs. 601.05. The total number of shares traded during the day was 162669 in over 5802 trades.

The stock hit an intraday high of Rs. 584.50 and intraday low of 545.00. The net turnover during the day was Rs. 90470459.00.

Source : Equity Bulls

Keywords

WelspunCorp INE191B01025 AssociateCompany SaudiArabia EPIC OrderWin ARAMCO