Welspun Corp Incorporates New Subsidiary in Jordan

Welspun Corp Ltd announced the incorporation of a new step-down wholly owned subsidiary in Jordan through its wholly-owned subsidiary, Welspun Global Holdings Limited (WGHL). The new entity, to be named 'Welspun Pipe Jordan, PSC' or similar, will focus on manufacturing, producing, processing, and fabricating iron and steel wires, tubes, and pipes, including line pipes for oil, gas, and water transportation. It will also engage in casting and processing of iron and steel. The incorporation is subject to regulatory approvals in Jordan, and the shareholding will be 100% by WGHL, funded by cash consideration.