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Welspun Corp on Thursday said its associate company, East
Pipes Integrated Company for Industry, has received an order of 324 million
Saudi Riyal (around Rs 689 crore) from Saline Water Conversion Corporation in Saudi Arabia.
The order
is for the manufacture and supply of steel pipes and will be executed in the
ongoing financial year, the company said in a statement.
"Associate
company EPIC in the Kingdom of Saudi Arabia has been
awarded a contract by SWCC for the manufacture and supply of steel pipes. The
contract is valued at SAR (Saudi Riyal) 324 million (approximately) including
value added tax and the same will be executed in this financial year," it
said.
This is
in addition to the recent work orders awarded by SWCC of SAR 497 million
(around Rs 1,056 crore) in March 2022 and SAR 490 million (around Rs 1,041
crore) in May 2022.
According
to the statement, EPIC is Saudi Arabia's leading manufacturer of Helical
Submerged Arc Welded (HSAW) pipes.
Welspun
Corp, the flagship company of Welspun Group, is a leading welded line pipe
manufacturer.
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