East Pipes Integrated Company for Industry (EPIC), an associate company of homegrown Welspun Corp Ltd (WCL), has secured an order worth SAR (Saudi riyal) 1.8 billion from Saudi Aramco.

Share Market Live

NSE

"This is one of the single largest orders for EPIC from Saudi Aramco and represents the major share of the first package of the Master Gas Phase 3 project."

"Associate company EPIC in the Kingdom of Saudi Arabia (KSA) has signed a contract for the supply of large diameter steel pipes with Saudi Aramco for a total value exceeding SAR 1.8 billion (around Rs 4,000 crore) inclusive of value added tax," WCL said in a statement on Monday.

Also Read: JSW Steel, JFE Steel ink pact to set up electrical steel manufacturing JV in India

Saudi Aramco is extending the existing Master Gas System (MGS) to the western province of KSA in order to supply the power plants located there. The development and expansion of the MGS will have a major impact, not just on the existing gas network capacity, but also to accelerate the drive towards a cleaner energy mix, helping to reach the net-zero emission goal set by the country, it added.

EPIC is a leading manufacturer of helical submerged arc welded (HSAW) pipes.

The flagship company of Welspun Group, WCL 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 customised solutions for both onshore and offshore applications.

Also Read: Nifty Metal index rises 3% with Adani Enterprises shining brightest — what should you do