Saudi Arabia’s East Pipes Integrated Company for Industry has issued a SAR 173.2 mln (USD 46.1m) related-party purchase order to Welspun Corp Limited (WCL) for the supply of steel pipes, the company said in a stock exchange filing.
The order covers a portion of an existing project previously awarded to East Pipes and was placed at the client’s request to accelerate the execution of a critical gas infrastructure project. Deliveries are scheduled to be completed before the end of Q3 of FY2025/26.
The transaction qualifies as a related-party deal, as WCL owns Welspun Mauritius Holding Company, which holds a 26.49pct stake in East Pipes.
Founded in 2010, East Pipes operates a helical spiral arc welded (HSAW) pipe plant in Dammam with an annual capacity of 500,000 tons. The facility can produce pipes up to 18.2 meters long, with wall thicknesses of 6-25.4 mm, diameters of 20-100 inches, and grades up to API X80.
1 USD / 3.75 SAR
