Welspun Corp Limited bags US order worth over Rs 5,000 crore

Welspun Corp has received its single largest order for supply of pipes valued at over Rs 5000 crore in the United States.
This order is for supply of 325,000 MT (approx) of large diameter coated pipes for transporting natural gas from the Permian Basin to Houston.

Vipul Mathur, Managing Director and Chief Executive Officer, Welspun Corp, said the single largest order comes out of the understanding of customer’s needs, quality orientation and execution track record coupled with modern technology and innovation.

“We are confident that given the prevailing high energy prices and increasing demand scenario, further opportunities are likely to arise over the mid-to-long term in both the global and the US market. This will enable the company to convert opportunities into business and profitable order books at Welspun Corp over the next few years,” he said.

The pipes for this order will be produced from the company's Little Rock plant in the US and the same will be executed over a period of 12 months, commencing H2 of FY 23.

With this, the company's order book as on date (excluding Saudi) stands at 704,000 MT valued at Rs.10,500 crore (approx)

The company's scrip ended at Rs 245, up 17.37% on the BSE.