Welspun Corp to invest $115M in US spiral facility, partners in Jordan
Welspun Corp Limited's Board of Directors has approved significant expansions and partnerships. The company will invest up to USD 115 million in setting up an additional spiral pipe facility in Little Rock, Arkansas, USA, to augment its existing capacity by 225 KMTPA. This expansion is driven by strong demand in the US Oil & Gas sector and will be funded through internal accruals, with operations expected by March 2028. Additionally, Welspun Corp and Perma-Pipe International Holdings, Inc. will jointly invest up to approximately USD 125 million in Jordan to establish spiral pipe manufacturing and coating facilities. This partnership aims to create a regional manufacturing hub for water, oil & gas, and infrastructure projects in Jordan and surrounding markets, funded on a 50:50 basis.
Key Highlights
- Welspun Corp approves $115M capex for new US spiral pipe facility.
- US facility to increase HSAW Pipes capacity by 225 KMTPA.
- Partnership with Perma-Pipe to invest $125M in Jordan pipe facilities.
- Jordan facilities to serve regional water, oil & gas, and infrastructure projects.
- Board also approved re-appointment of two Independent Directors.
Price Impact
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