Welspun Corp and Perma-Pipe Sign MoU to Establish Pipe Manufacturing Hub in Jordan

Welspun Corp Limited and Perma-Pipe International Holdings have signed a Memorandum of Understanding (MoU) with the developers of Jordan's National Water Carrier Project and the Jordanian government. The agreement sets out plans to establish pipe manufacturing and advanced coating facilities in the kingdom through a proposed joint venture.

The partnership combines Welspun's expertise in large-diameter steel pipe manufacturing with Perma-Pipe's anti-corrosion coating systems and engineered piping solutions. Financial terms, the ownership structure of the joint venture, and project timelines have not yet been disclosed by the companies. These details will be announced once definitive agreements are finalized.

The primary objective of the planned facilities is to support Jordan's National Water Carrier Project, which ranks as one of the country's largest infrastructure initiatives. The project is designed to transport desalinated water from the Gulf of Aqaba via a major pipeline network to communities across the nation.

In addition to the water carrier project, the companies stated that the joint venture could serve oil and gas, energy, and broader infrastructure markets throughout the Levant and the Middle East. The proposed facilities may also eventually support reconstruction activities in Syria, Lebanon, Iraq, and Gaza, alongside potential pipeline rerouting toward the Port of Aqaba.

Vipul Mathur, Managing Director and CEO of Welspun Corp, noted that the investment aligns with the company's growth strategy to expand its manufacturing footprint in strategically important markets. Meanwhile, Perma-Pipe President and CEO Saleh Sagr described Jordan as a crucial gateway to broader regional markets.

Jordan's Minister of Water and Irrigation, Eng. Raed Abu Soud, welcomed the partnership, emphasizing the nation's requirement for reliable, high-quality infrastructure and local supply chain capabilities to achieve its long-term water security goals.

The parties are currently working through various technical, commercial, financing, and regulatory requirements before finalizing the venture. Perma-Pipe is publicly traded on the Nasdaq under the ticker symbol PPIH. Welspun Corp serves as the flagship entity of the Welspun Group and currently operates manufacturing facilities in India, the United States, and Saudi Arabia.

"This joint venture highlights how strategic partnerships can address critical infrastructure and resource challenges in developing markets like Jordan. By combining specialized manufacturing and anti-corrosion coating capabilities, Welspun Corp and Perma-Pipe are positioning themselves well to capture long-term demand not only for domestic water security projects, but also for wider energy and reconstruction initiatives across the Middle East. As technical and regulatory requirements are finalized, closely watching the project timelines and financial structure will be key." — Dr. Shishir Gupta, Founder & CEO, StartupLanes