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Welspun Corp bags Rs 706 cr order from IOC

Mumbai, 5th May: Welspun Corp Ltd (WCL), has received an order from Indian Oil Corporation Limited (IOCL) of approximately 48,000 MT, valued at approximately Rs 706 crore. According to a press release issued by the company, the order will be executed during the current financial year. 

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 Limited 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. 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”.