Welspun Corp’s associate company, East Pipes Integrated Company for Industry (EPIC) in Saudi Arabia, has secured a significant contract with Saudi Arabian Oil Co. (Aramco). The agreement, valued at over 771 million SAR (approximately ₹2,000 Crore) including VAT, is for the manufacturing and supply of steel pipes. This contract underscores EPIC’s position as a preferred supplier in the KSA market and its role in supporting Saudi Vision 2030 initiatives.
Major Contract Win for Associate in Saudi Arabia
Welspun Corp Limited is pleased to announce that its associate company, East Pipes Integrated Company for Industry (EPIC), has entered into a significant contract with Saudi Arabian Oil Co. (Aramco). EPIC, a listed entity in the Kingdom of Saudi Arabia (KSA), announced the contract signing today on the Saudi Stock Exchange. This agreement is for the manufacturing and supply of steel pipes, a crucial component for the energy sector.
Contract Value and Financial Impact
The total value of this contract exceeds 771 million SAR, which is approximately ₹2,000 Crore, inclusive of value-added tax. The financial impact of this substantial order will be recognized from Q4 FY2026-27 through Q1 FY27-28. This provides a clear revenue stream and enhances the financial outlook for Welspun’s associate.
EPIC’s Market Position and Strategic Alignment
East Pipes Integrated Company for Industry (EPIC) is recognized as Saudi Arabia’s leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes. The company boasts fully integrated manufacturing facilities and an established track record for successfully executing large-scale orders with a focus on quality and timely delivery. This strategic partnership further solidifies EPIC’s standing as a preferred supplier in the KSA market and aligns with the country’s broader objectives under Vision 2030, contributing to industrial growth and diversification.
This announcement is for the information and records of stakeholders.
Source: BSE
