Welspun Corp, Perma-Pipe to invest Rs 1500 crore in Jordan pipe manufacturing JV

Mumbai: Welspun Corp and US-based Perma-Pipe International Holdings have signed a memorandum of understanding with the developers of Jordan's National Water Carrier Project and the Jordanian government to establish pipe manufacturing and advanced coating facilities in the Kingdom.

According to sources aware of the development, the companies plan to form an equal joint venture with an approx investment of ₹1500 crore to develop an integrated manufacturing platform catering to major water, oil and gas, energy and infrastructure projects in Jordan and across the Levant region.

"Details regarding investment in the joint venture, ownership structure, capacity and project timelines will be announced after definitive agreements are completed," the companies said.


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The proposed venture will combine Welspun's large-diameter steel pipe manufacturing capabilities with Perma-Pipe's anti-corrosion coating systems, engineered piping solutions and project execution expertise.

The facilities are expected to play a key role in supporting Jordan's National Water Carrier Project, a major water security initiative designed to transport desalinated water from the Gulf of Aqaba to communities across the country through an extensive pipeline network.

In a regulatory filing, the companies said they are currently working with project developers on technical, commercial, financing and regulatory requirements, including facility design, manufacturing capacity, coating technologies and market requirements.

Welspun Corp managing director and chief executive officer Vipul Mathur said the proposed investment was in line with the company's strategy of expanding its manufacturing footprint in core geographies with long-term infrastructure growth opportunities.