Welspun Corp received a deal worth Rs 706 crore from Indian Oil Corporation (IOCL) of approximately 48,000 MT (metric ton). The 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 IOCL’s Panipat refinery expansion project. The company said that the order will be executed this financial year.
Further, the steel maker stated that, apart from the above order, it has also secured various other orders during this period, across oil & gas, city gas distribution (CGD), and water sectors in India along with the oil & gas sector in the US, amounting to Rs 2,450 crore. Most of them are expected to be executed within this financial year, Welspun Corp added.