News ArticleWelspun Corp Board Approves USD 115 Million USA Plant Expansion and USD 125 Million Jordan JV for Pipe Manufacturing
The company plans to operationalize the USA capacity enhancement by March 2028 and sets up a joint venture to expand IFBE coating capabilities in India
Welspun Corp announces board approval for USD 115 million capex to expand spiral pipe facility in Arkansas, USA, and a USD 125 million partnership with Perma-Pipe to establish pipe manufacturing and coating facilities in Jordan. The firm also approves re-appointment of independent directors and a joint venture to set up IFBE coating plant in India.
Welspun Corp Limited
Corporate Action
On October 29, 2026, Welspun Corp Limited's Board approved key strategic investments including a USD 115 million capex to increase spiral (HSAW) pipe manufacturing capacity in Little Rock, Arkansas, and a USD 125 million joint venture with Perma-Pipe to set up pipe manufacturing and advanced coating facilities in Jordan. The Board also approved the re-appointment of two independent directors and a 49% stake acquisition in Welspun Special Coating Private Limited to enter the IFBE coating business in India.
Welspun Corp plans to augment its existing spiral pipe manufacturing capacity in the USA by 225 KMTPA, adding to the current 350 KMTPA, with the new facility expected to be operational by March 2028. This expansion is funded through internal accruals with a capex allocation of USD 115 million.
In Jordan, Welspun and Perma-Pipe International Holdings, Inc. will jointly invest approximately USD 125 million in a new manufacturing and coating facility. The facility will produce pipes sized 24 to 120 inches, targeting major water, oil and gas, energy, and infrastructure projects in Jordan and regional markets. The partnership combines Welspun’s steel pipe manufacturing expertise with Perma-Pipe’s anti-corrosion coating technology.
The Board approved the re-appointment of Mr. Manish Chokhani and Mr. Anjani Kumar Agrawal as Independent Directors for a second term of four years each, effective February and April 2027 respectively.
Welspun is advancing its entry into the Internal Fusion Bonded Epoxy (IFBE) pipe coating market in India by acquiring a 49% equity stake in Welspun Special Coating Private Limited (WSCPL). This joint venture with Perma-Pipe Qatar will enable IFBE coating capabilities both for domestic and export orders, with total investments up to Rs. 110 crores shared in proportion to ownership.
These strategic moves align with Welspun Corp’s focus on capacity expansion, technology enhancement, and strengthening global manufacturing presence.
Highlights
- Board approved USD 115 million capex for spiral pipe facility expansion in Arkansas, USA, increasing capacity by 225 KMTPA, operational by March 2028.
- USD 125 million joint venture in Jordan with Perma-Pipe to establish pipe manufacturing and coating facilities for pipes sized 24" to 120".
- Re-appointment of Independent Directors Manish Chokhani and Anjani Kumar Agrawal for second terms starting 2027.
- Acquisition of 49% stake in Welspun Special Coating Private Limited to develop IFBE coating capability in India, partnering with Perma-Pipe Qatar.
- Total investment in IFBE joint venture estimated at Rs. 110 crores, shared with JV partner.
- Expansion plans funded through internal accruals, with no external financing announced.
Key Data Snapshot
What happened
- Board approved unaudited financial results for the quarter and half-year ended September 30, 2026.
- Re-appointment of two Independent Directors for second terms starting in 2027.
- Approval of USD 115 million capex for increasing spiral pipe capacity in USA.
- Board approved a USD 125 million joint venture with Perma-Pipe to build pipe manufacturing and coating plants in Jordan.
- Acquisition of 49% stake in Welspun Special Coating Private Limited to enter IFBE coating business in India.
Key details
- The USA facility expansion will increase capacity by 225 KMTPA to a total of 575 KMTPA, located at Little Rock, Arkansas.
- Jordan JV aims to serve regional water, oil, gas, energy, and infrastructure projects with pipes 24" to 120".
- IFBE coating plant investment estimated at Rs. 110 crores, split between Welspun Corp and Perma-Pipe Qatar at 49:51 ownership.
- Re-appointments based on Nomination and Remuneration Committee recommendations, subject to shareholder approval.
Transaction details
- USD 115 million capex to be funded through internal accruals; no debt financing involved.
- Jordan JV to be governed by definitive agreements to be finalized later.
- WSCPL equity stake acquired from Welspun DI Pipes Limited and JV agreement to be entered with Perma-Pipe Qatar.
- Welspun DI Pipes Limited approved share sale and transfer to Welspun Corp and Perma-Pipe Qatar.
Strategic context
- Expansion leverages strong order book and demand visibility in USA oil & gas pipeline sector.
- Jordan JV strengthens regional manufacturing and coating capabilities for infrastructure projects and potentially wider markets including Syria, Lebanon, Iraq, and Gaza.
- IFBE coating business development positions Welspun to win both export and domestic orders for coated pipes.
Highlights
- Board approved USD 115 million capex for spiral pipe facility expansion in Arkansas, USA, increasing capacity by 225 KMTPA, operational by March 2028.
- USD 125 million joint venture in Jordan with Perma-Pipe to establish pipe manufacturing and coating facilities for pipes sized 24" to 120".
- Re-appointment of Independent Directors Manish Chokhani and Anjani Kumar Agrawal for second terms starting 2027.
- Acquisition of 49% stake in Welspun Special Coating Private Limited to develop IFBE coating capability in India, partnering with Perma-Pipe Qatar.
- Total investment in IFBE joint venture estimated at Rs. 110 crores, shared with JV partner.
- Expansion plans funded through internal accruals, with no external financing announced.
Disclosures
- Regulation 30 and Regulation 33 of SEBI Listing Regulations 2015
- SEBI Master Circular SEBI/HO/49/14/14(7)2025 -CFD-POD2/I/3762/2026 dated 30 Jan 2026
Welspun DI Pipes Limited and Perma-Pipe Qatar as related entities in the IFBE coating JV transaction
More News on Corporate Action
View allLatest corporate announcements and market updates in Corporate Action.
Asian Paints Declares Rs. 5.75 Interim Dividend and Releases Q2 & H1 FY2026-27 Financial Results
Asian Paints Limited announced its financial results for the quarter and half year ended 30th September 2026 and declared an interim dividend of Rs. 5.75 per equity share for the fiscal year ending 31st March 2027.
Read Full Story
R R Kabel Limited Declares Interim Dividend of ₹6.5 Per Equity Share for 2026-27
R R Kabel Limited announced an interim dividend of ₹6.5 per equity share of face value ₹5 for the financial year 2026-27, with the record date set as November 3, 2026.
Read Full Story
R R Kabel Reports ₹1780 Million Q2 Profit and Declares ₹6.5 Interim Dividend for FY 2026-27
R R Kabel Limited declared an interim dividend of ₹6.5 per share for the financial year 2026-27 alongside posting a standalone net profit of ₹1780 million for the quarter ended 30 September 2026. The Board also approved strategic operational changes including relocating its Roorkee manufacturing unit and investing up to ₹200 Crores in land acquisition in Rajasthan for future expansion.
Read Full Story
