Welspun Corp to Export LSAW Pipes And Bends To Middle East
Welspun Corp Ltd (WCL) has won an order for the export of LSAW pipes and bends to the Middle East. The Mumbai-based company in an exchange filing, said, "WCL is pleased to inform you that it has been awarded a prestigious contract for export of LSAW Pipes and Bends to the Middle East which will be executed from its facilities in Anjar, India in FY 23-24." The contract is for approximately 83,000 mt bare pipes, with an option of coating exercisable by the project owner subsequently. The pipes supplied to the Middle East will be used for offshore production and transport of gas, which will accelerate and enhance LNG export infrastructure in one of the largest LNG producing and exporting countries in the world, Welspun Corp added. Last month, Welspun Corp’s associate company, EPIC, signed contracts worth SAR 569 m to supply steel pipes for water transmission. Last year in December, the company received possession of moveable properties from the liquidator of ABG Shipyard while the company’s arm received possession of the immovable property at Dahej, Gujarat from the liquidator. Welspun Corp’s stock price was Rs 193 per share, up nearly 5 percent, when the market closed.
Tags : Welspun Corp Ltd LSAW pipes Mumbai company