Welspun Corp’s EPIC secures contract worth 1.8 bn riyal from Saudi Aramco
1 min read 22 May 2023, 04:32 PM ISTEPIC, a leading manufacturer of helical submerged arc welded pipes in Saudi Arabia, will supply large diameter steel pipes for Saudi Aramco’s Master Gas - Phase 3 project
PremiumNew Delhi: Welspun Corp Ltd’s associate firm, East Pipes Integrated Company for Industry (EPIC) on Monday clinched a contract worth 1.8 billion riyal (around ₹4,000 crore) from Saudi Aramco.
EPIC, a leading manufacturer of helical submerged arc welded pipes in Saudi Arabia, will supply large diameter steel pipes for Saudi Aramco’s Master Gas - Phase 3 project. This contract, marking one of the largest orders for EPIC from the oil giant, represents a significant portion of the initial package of the project, the company said.
Saudi Aramco’s Master Gas - Phase 3 project aims to convert a number of power plants from oil to natural gas, contributing to the country’s drive towards a cleaner energy mix and its net-zero emission goal.
Saudi Aramco is expanding the existing Master Gas System (MGS) to the Western Province in order to provide gas supply to power plants in the region.
EPIC’s strong position in the market, along with its fully integrated manufacturing facilities and track record of successful project execution, played a key role in securing this contract. The company is well-equipped to handle projects in both the water and oil & gas sectors.
The financial impact of the contract will be reflected in Welspun Corp Ltd’s financial results for the third and fourth quarters of the current fiscal year, FY24, as well as the first quarter of the following fiscal year, FY25.
Welspun Corp Ltd is the flagship company of Welspun Group, one of India’s companies in line pipes and home textiles, along with other lines of businesses in infrastructure, warehousing, retail, advanced textiles, and flooring solutions.
It is one of the largest manufacturers of large diameter pipes globally and has established a global footprint across six continents and 50 countries by delivering key customized solutions for both onshore and offshore applications.
