Moneycontrol PRO
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
you are here: HomeNewsBusiness

Welspun Corp ropes in Tata Steel to develop 'framework' and manufacture for pipes for hydrogen transportation

While Welspun Corp Ltd, the flagship company of Welspun Group, is a leading welded line pipe manufacturer, Tata Steel is among the top three steel making companies in India.

June 09, 2022 / 12:36 PM IST
Welspun India: The company reported a 62 percent year-on-year fall in consolidated profit at Rs 51.25 crore in quarter ended March 2022, impacted by lower operating income, lower other income, and tepid topline growth. Revenue grew by 4.3 percent to Rs 2,227 crore and EBITDA increased by 29.3 percent to Rs 226.5 crore during the same period.

Welspun India: The company reported a 62 percent year-on-year fall in consolidated profit at Rs 51.25 crore in quarter ended March 2022, impacted by lower operating income, lower other income, and tepid topline growth. Revenue grew by 4.3 percent to Rs 2,227 crore and EBITDA increased by 29.3 percent to Rs 226.5 crore during the same period.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Welspun Corp Ltd (WCL) has partnered with Tata Steel to develop the "framework for and subsequently manufacturing" pipes for transportation of pure hydrogen and natural gas-blended hydrogen.

While Welspun Corp Ltd, the flagship company of Welspun Group, is a leading welded line pipe manufacturer, Tata Steel is among the top three steel making companies in India.

"Welspun Corp Ltd and Tata Steel Ltd have signed an MoU to jointly work towards developing the framework for and subsequently manufacturing green pipes for the transportation of pure hydrogen and hydrogen blended with natural gas," WCL said in a statement.

The green energy strategic partnership with Tata Steel is to assess the suitability of a variety of pipes manufactured by WCL for the transportation of the fuel of the future, which will aid in mitigating climate change-led issues and build a secure future for posterity, it said.

This MoU (Memorandum of Understanding) will enhance the general understanding and knowledge of the transportation of hydrogen globally, Welspun Corp said.

In October 2021, Welspun Corp had joined the H2Pipe Joint Industry Project on Hydrogen Pipelines launched by leading industrial certification body DNV AS Energy Systems Pipeline Technology.

It was a global industry project to develop the "world's first guideline" for transportation of hydrogen gas in existing and new offshore pipelines. Vipul Mathur, Managing Director & CEO, Welspun Corp Limited, said: "We are working towards strengthening its expanding product portfolio both in India and globally while focusing on building a future-ready world."

Rajeev Singhal, Vice President Marketing & Sales (Flat Products), Tata Steel, said: "The partnership is an important step in our journey towards sustainability.

"This will enable us to jointly develop steel for safe transportation of hydrogen gas which is a critical requirement for adoption of hydrogen fuel in line with the government's National Hydrogen Mission."
PTI
first published: Jun 9, 2022 12:39 pm