Homegrown Welspun Corp Ltd on Monday said its associate entity EPIC has signed multiple agreements worth Rs 3,670 crore with Saudi Arabian Oil Co. (Aramco) for the supply of steel pipes. The duration of the contracts is 19 months, and the financial impact of the contracts will be reflected from the fourth quarter of the financial year 2024-25 to the last quarter of the financial year 2025-26, according to an exchange filing.
"Our associate company East Pipes Integrated Company for Industry today announced multi contracts sign off with Saudi Arabian Oil Co. (Aramco) with value exceeding (Saudi Riyal) SAR 1.65 billion (approximately Rs 3,670 crore) inclusive of value added tax for manufacturing and supply of steel pipes," it said.
EPIC is Saudi Arabia's leading manufacturer of Helical Submerged Arc Welded pipes, Welspun Corp. said.
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