Welspun Corp (WCL) has received a prestigious order from Indian Oil Corporation (IOCL) of approximately 48,000 MT, valued at approximately INR 706 crore. The order will be executed during the current financial year.
Forerunners in manufacturing a wide range of line pipes, Welspun Corp manufactures and supplies to some of the most critical pipelines in the world. With a sharp focus on innovation, technology and leveraging its deep domain knowledge, the company strategizes to continuously adapt to the changing environment and offering complete solutions and catering to sectors for oil and gas, and water transmission industries. WCL is soon entering the DI Pipes segment that will cater to Indian households’ potable water needs. This latest project reaffirms the company’s strong focus on customer centricity as well as technical excellence and execution capabilities.
The IOCL order is for a large section of the Mundra Panipat Crude Oil Pipeline (P25) Project which will be constructed to augment the crude oil intake for lOCL's Panipat refinery expansion project. This project entails setting up of a new crude oil pipeline system with a capacity of 17.5 million tonnes per annum (MTPA) from the port city of Mundra in Gujarat to Panipat refinery in Haryana.
Commenting on this development, Vipul Mathur, Managing Director & CEO, Welspun Corp said, “With a strong focus on engineering excellence, we at Welspun Corp continue to fortify our portfolio to be well equipped in serving the ever-evolving needs of our customers and expanding our ambit. We are confident of undertaking high impact projects to fulfil the growing demands across various markets. The Mundra-Panipat Crude Oil Pipeline Project is a critical one and it allows us to not only leverage our capabilities but also underlines IOCL’s trust in our strategic and technical might”.
Welspun Corp has recently secured various other orders across the Oil & Gas, CGD and Water sectors in India as well as in the Oil & Gas sector in the US, amounting to approx. Rs.2,450 crores. Most of these orders are slated to be executed within this financial year.
