Welspun gets Trump nod to supply pipes to KeyStone XL project
The pipeline will carry tar sands oil from Canada to refineries on the Texas Gulf Coast.

Welspun Group on Saturday said that its line pipe project in the US has got the presidential permission to begin work on the Keystone XL pipeline project.
The work is being executed by Welspun Global Trade, part of the Welspun Group. "The department of state has signed and issued a presidential permit to construct the Keystone XL pipeline project. The prestigious project is partnered by Welspun Global Trade to supply line pipes to TransCanada Corp," Welspun said in a statement.
Reacting to the development, Rusty Fisher, senior VP, Welspun Global Trade, said, "we welcome President Donald Trump's ratification of the KeyStone XL pipeline. The decision to revive the pipeline project will result in creating thousands of jobs and fulfil the energy needs of the country in addition to having a multiplier effect on the US economy."
Phase 4 of the Keystone pipeline project will link oil producers in Canada and North Dakota with refiners and export terminals on the Gulf Coast. The pipeline will carry tar sands oil from Canada to refineries on the Texas Gulf Coast.
"Welspun has completed its manufacturing obligations but our manufacturing facilities in Little Rock, Arkansas are fully geared up to fulfil any additional requirement of pipes as the project moves ahead," Fisher said.
Welspun Global Trade has a line pipe manufacturing facility in the Arkansas capital of Little Rock and produces specialised onshore and offshore line pipes. With an installed capacity of 350,000 mtpa, the plant can produce line pipes from 24 inches to 60 inches in diameter.
The US is the largest market for Welspun Corporation which is into line pipe manufacturing.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

Gratuity Calculation: What will be your gratuity on Rs 45,000 last-drawn basic salary for 6 years & 9 months of service?

SBI Senior Citizen FD Rates: Want to invest Rs 3,00,000 in SBI FD? You can get this much maturity amount in 1 year, 3 years, and 5 years

No penalty for early loan repayment? Key takeaways from RBI's new foreclosure guidelines for lenders

EPS Pension Calculation: Rs 40,000 basic salary, 30 years of service, what will be your monthly EPS pension amount?

Retirement Planning: How one-time investment of Rs 11,00,000 can create a Rs 3,30,00,000 retirement corpus

New Tax Regime Calculations: Is your annual income Rs 12,76,000? Will you be taxed on Rs 1,000, or Rs 12,76,000 in proposed new tax regime? Know rules

SIP Calculation at 12% Annualised Return: Rs 1,000 monthly SIP for 20 years, Rs 4,000 for 5 years or Rs 10,000 for 2 years, which do you think works best?
11:04 AM IST