Welspun Corp signs MOU with Perma-Pipe for pipe manufacturing JV in Jordan
WELCORP · price
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Welspun Corp has signed an MOU with US-listed Perma-Pipe International Holdings to set up a joint venture for pipe manufacturing and anti-corrosion coating facilities in Jordan. The partnership, backed by the Government of Jordan and developers of the National Water Carrier Project, aims to serve water, oil and gas, and infrastructure projects in Jordan and the wider Levant region including Syria, Lebanon, Iraq and Gaza. Investment size, ownership structure, capacity and project timeline are yet to be finalized.
Strategic geographic expansion through a marquee JV with a Nasdaq-listed partner. Long-term growth opportunity, but key financial terms are still pending.