India-based Welspun Limited’s Middle East arm East Pipes and Integrated Company (EPIC) has secured a $62 million steel pipe supply contract from Saline Water Conversion Corporation, Saudi Arabia, according to a company regulatory filing on Tuesday, March 26.
The supply contract comes just a day after Welspun India and Saudi oil major Aramco terminated a $406 million supply contract for steel pipes to be completed over a period of eight months.
Welspun said that its Middle East subsidiary will complete the supply contract over a period of 30 months and that financial impact of the contract will be reflected in the first quarter of 2024-25 until the third quarter of 2026-27.
EPIC, based in Saudi Arabia, is a leading manufacturer of helical submerged arc welded (HSAW) pipes with its fully integrated manufacturing facilities catering to the water and oil and gas sectors in the Middle East.
