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Welspun Corp, Perma-Pipe Plan Jordan Pipe Manufacturing JV
Welspun Corp and Perma-Pipe want to build a joint business in Jordan.
They signed a preliminary agreement called a memorandum of understanding.
The proposed business would make pipes and add special coatings to protect them from corrosion.
The facilities could supply water, oil and gas, energy, and infrastructure projects.
They may serve Jordan and nearby countries and regions.
The companies are still working out the project’s design, cost, ownership, and size.
They also hope to create local jobs and technical skills.
Welspun’s share price has risen sharply, although it fell slightly during the reported trading session.
Welspun Corp and Perma-Pipe International Holdings signed an MoU on September 1 for a proposed Jordan joint venture.
The venture would develop integrated pipe manufacturing and advanced coating facilities in Jordan and neighboring regions.
The facilities are intended to serve water, oil and gas, energy, and infrastructure projects.
Investment, ownership, capacity, and project timelines will be disclosed after definitive agreements are completed.
Welspun Corp shares were near a 52-week high, up more than 51% in one month and 226% over six months, while one report cited a 220% rise in 2026.
- Who
- Welspun Corp and Perma-Pipe International Holdings, together with Jordan’s National Water Carrier Project and the Government of the Hashemite Kingdom of Jordan.
- What
- The companies signed an MoU for a proposed joint venture to develop pipe manufacturing and advanced coating facilities.
- Where
- Jordan, with potential service to neighboring regional markets and areas including Syria, Lebanon, Iraq, and Gaza.
- When
- The MoU was signed on September 1; the articles do not specify the year.
- Why
- To support water, oil and gas, energy, infrastructure, reconstruction, and regional pipeline projects while developing local manufacturing and technical capabilities.
Key facts
- Companies
- Welspun Corp and Perma-Pipe International Holdings
- Agreement date
- September 1
- Planned location
- Jordan
- Proposed facilities
- Integrated pipe manufacturing and advanced coating platforms
- Target sectors
- Water, oil and gas, energy, and infrastructure
- Pending details
- Investment structure, ownership, manufacturing capacity, and project timeline remain subject to definitive agreements
- Share performance
- Welspun Corp shares were reported up more than 51% over one month, 226% over six months, and 220% in 2026; the stock was also reported down nearly 1% intraday
Quotes
Welspun Corp
The company describing the capabilities and expected contribution of the partnership in its exchange filing
“The partnership is expected to bring together Welspun’s large-diameter steel pipe manufacturing capabilities and Perma-Pipe’s expertise in anti-corrosion coating systems designed to protect pipelines from corrosion and extend service life, engineered piping solutions and project execution expertise”
financialexpress.com
Sources
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