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The contract period is 30 months East Pipes Integrated Company has signed a contract with Saudi state-backed Saline Water Conversion Corporation (SWCC) worth more than 230 million Saudi riyals ($61.33 million) to supply steel pipes. The contract duration is for 30 months, the company said in a filing on the Saudi stock exchange. EPIC, a Welspun Corp. associate, manufactures helical submerged arc welded (HSAW) pipes in Saudi Arabia. The company remains well-placed to secure further projects both in the water and oil and gas sector, Welspun, which is listed on the Bombay Stock Exchange, said in a statement. Earlier this month, East Pipes agreed to cancel its SAR153 million ($40.8 million) contract with Saudi Arabian Oil Company (Aramco). |
