Welspun Corp Associate Company EPIC, Signs Contract Valued SAR 490 Million
Welspun Corp Ltd. (WCL), further fortifies its international business through its associate company - East Pipes Integrated Company for Industry (EPIC) - in the Kingdom of Saudi Arabia. EPIC has signed a contract with Saline Water Conversion Corporation (SWCC) valued at SAR 490 million. The project, spanning a period of 12 months, will entail the delivery of steel pipes for water transmission managed by SWCC. This follows the receipt of an SAR 497 million contract in March 2022, for a project of a similar nature, also by SWCC. And the project is in line with the aim of the Saudi Arabia Government to expand the country’s water pipeline infrastructure through investment from the private sector. Commenting on this development, Vipul Mathur, Managing Director & CEO, Welspun Corp Limited said, “WCL is on an aggressive roadmap towards strengthening its water infrastructure portfolio both in India and globally. The receipt of this new contract by our associate company, EPIC, is a testament to that, as we continue to solidify our leadership position in the Saudi market, which offers enormous growth potential in the water infrastructure sector.” The company’s ever-expanding goals and targets have helped them reach out to several parts of the world - six continents and fifty countries - where they’ve successfully supplied pipes to massive projects which have yielded great results. WCL’s growth strategy entails creating a diversified product portfolio, repurposing its business to add new target segments, expanding its offerings to address both the B2B and B2C markets, and making well-considered strategic acquisitions. The diversification into the B2C segment will help the Company to significantly expand its base, enhance its brand, penetrate new markets, build a distribution network, and provide opportunities to develop new products. In this pursuit, WCL will soon be commencing its TMT facility, thereby taking the company's portfolio from being a large-scale B2B business to a B2C business in the next few months. Also, WCL is foraying into polymer/plastic business segment, which is another step towards creating a strong B2C organization in line with the overall strategy.
Tags : Welspun Corp Associate Company EPIC Signs Contract Valued SAR 490 Million Welspun Corp Ltd. (WCL) Vipul Mathur Managing Director & CEO Welspun Corp Limited