India's Welspun US unit wins $412.5 million pipe supply order (updated)
UPDATE 1-India's Welspun US unit wins $412.5 million pipe supply order Adds background from paragraphs 2-5
Sept 25 (Reuters) - Indian steel pipe maker Welspun Corp WGSR.NS said on Friday that its US unit won a $412.5 million pipe supply order, as investments in energy infrastructure and industrial activity boost demand.
The order, for pipes commonly used in oil and gas and water pipelines, will be executed between fiscal years 2028 and 2029.
This contract lifts Welspun's global order book to a record $4.7 billion, underscoring strong demand from energy companies and utilities investing in LNG, oil and gas, and power infrastructure projects globally.
Welspun will manufacture the pipes at its upgraded mill in Arkansas, the company said.
The latest contract follows a record $1.8 billion pipe supply order the company secured in August this year to supply pipes from its US manufacturing facility.
Welspun's manufacturing facility in Arkansas has been central to its North America expansion plans and is positioned to meet demand from oil and gas, LNG export, and hydrogen pipeline projects.
(Reporting by Saikeerthi in Bengaluru; Editing by Subhranshu Sahu and Rashmi Aich)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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Brief: Welspun Corp Unit Secures Largest-Ever HFIW Pipe Order Valued At USD 412.5 Million