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Last Updated : Mar 11, 2020 09:44 AM IST | Source: Moneycontrol.com

Welspun Corp share price gains as it wins new contract in Australia

The contract scope comprises manufacturing & supply of 270 km (87 KMT) pipes for critical offshore application.

 
 
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Welspun Corp share price added over 1 percent in the early trade on March 11 after the company won major offshore pipes supply contract in Australia.

The company has secured a major offshore pipes supply contract in Australia for the Barossa offshore Development project from Allseas Marine Contractors Australia PTY Ltd.

The project is owned by a joint venture, which comprises ConocoPhillips Australia, SK E&S Australia and Santos Offshore.

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The contract scope comprises manufacturing & supply of 270 km (87 KMT) pipes for critical offshore application.

This is a first for the company in the quality conscious Australian offshore Industry & reaffirms its strategic position in supplying pipes for challenging offshore projects across the globe.

With this recent order, which will be executed from India, the company’s global order book stands at robust 1,139 KMT after considering order execution up to February’ 2020.

At 09:22 hrs Welspun Corp was quoting at Rs 124.90, up Rs 0.50, or 0.40 percent on the BSE.

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First Published on Mar 11, 2020 09:44 am
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