Welspun Corp will invest up to $125 million to establish new spiral pipe manufacturing and coating facilities in Jordan. The company board approved this project, which involves a partnership with Perma-Pipe International Holdings to build the infrastructure. These facilities will produce and coat pipes ranging from 24 inches to 120 inches in diameter.
The investment will be split equally between Welspun Corp and Perma-Pipe. This decision follows a Memorandum of Understanding signed with the Government of the Hashemite Kingdom of Jordan and the developers of the National Water Carrier Project. The partnership combines the steel pipe manufacturing capabilities of Welspun Corp with the anti-corrosion coating expertise of Perma-Pipe.
These facilities aim to serve major infrastructure, water, oil, and gas projects within Jordan and surrounding regional markets. The company stated that the hub intends to support large-scale programs, strengthen local supply chains, and develop technical skills in the region. Future operations could also assist with infrastructure requirements in Iraq, Syria, Lebanon, and Gaza, alongside potential oil and gas projects connected to the Port of Aqaba.
Based on company and agency reports. For information only; not investment advice.