The share price of Welspun Corporation increased by over 5% during Wednesday’s morning trading. An MOU has been struck by the firm and Saudi Aramco to establish a production plant for LSAW line pipes. The facility, which can produce 350,000 MT annually, will help Saudi Aramco’s gas, oil, hydrogen, and CCUS projects, enhancing their long-term collaboration.
On Wednesday, the share price of Welspun Corporation began at ₹749.50 on the BSE, 2.7% higher than its closing price of ₹729.70. The share price of Welspun Corporation then surged to a peak of ₹775.15, representing gains of almost 6%.
Strengthening a trusted partnership
The new facility will support Saudi Aramco’s vital energy initiatives by helping to transmit gas, hydrogen, and oil. It is expected to start operations by the middle of 2026. The plant will be able to handle the Kingdom’s increasing demand by producing 350,000 MT of line pipes a year.
With contributions to numerous important oil and gas pipeline projects in the Kingdom, Welspun Corp has been a dependable partner of Saudi Aramco for almost 20 years. This new facility helps Saudi Arabia’s industrial aspirations in accordance with its strategic energy goals, while also strengthening Welspun’s position in the global energy industry.
About the Company
One of the fastest-growing multinational conglomerates in India, Welspun Group is a leader in the following industries: Advanced Textiles, Oil & Gas, Infrastructure Warehousing, Home Textiles, Line Pipes, and Flooring Solutions. The main business of the USD 2.7 billion Welspun Group, Welspun Corp Limited, is a favored supplier to numerous Fortune 100 oil and gas corporations and a one-stop shop for welded line pipes. Its plants in the United States, the Kingdom of Saudi Arabia, and India produce and distribute some of the most important pipelines used in the execution of intricate and sizable onshore and offshore projects.
