Welspun Corp Share Price Gains Over 4% as It Signs MOU with Perma-Pipe for Pipe Manufacturing and Coating Facilities in Jordan

On September 1, 2026, Welspun Corp Limited announced a Memorandum of Understanding (MOU) with Perma-Pipe International Holdings, Inc. to develop pipe manufacturing and coating facilities in Jordan, as per the exchange filings.  

This strategic partnership aims to support water, oil, gas, and infrastructure projects in Jordan and the Levant region. 

Details of the Partnership 

The MOU outlines a joint venture between Welspun and Perma-Pipe to create an integrated pipe manufacturing and coating platform in Jordan.  

This platform will leverage Welspun's large-diameter steel pipe manufacturing capabilities and Perma-Pipe's expertise in anti-corrosion coating systems.  

The collaboration aims to serve major infrastructure projects in Jordan and surrounding regional markets. 

Next Steps in the Project 

Perma-Pipe, Welspun, and project developers are currently engaged in addressing technical, commercial, financing, and regulatory requirements.  

These include facility design, manufacturing capacity, coating technologies, market needs, and necessary approvals. Further details on investment, ownership structure, capacity, and project timeline will be disclosed as the project progresses. 

Strategic Regional Platform 

The partnership aims to establish a regional manufacturing hub in Jordan, enhancing local value creation and skilled technical capabilities.  

It is expected to support infrastructure development in Syria, Lebanon, Iraq, and Gaza, and potentially reroute regional oil and gas infrastructure towards the Port of Aqaba. This initiative aligns with Welspun's strategy of investing in core products and geographies. 

Comments from Key Stakeholders 

Vipul Mathur, CEO of Welspun Corp Limited, highlighted the JV's alignment with Welspun's strategy to expand its manufacturing footprint in strategically important markets like Jordan. Saleh Sagr, CEO of Perma-Pipe, emphasised Jordan's geographical importance as a gateway to markets across the Levant and broader Middle East. 

Support from the Jordanian Government 

H.E. Eng. Raed Abu Soud, Minister of Water and Irrigation of Jordan, expressed support for the partnership, highlighting its potential to strengthen national manufacturing capabilities and develop critical water infrastructure. The project is expected to contribute to Jordan's industrial development and long-term economic growth. 

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Welspun Corp Share Price Performance 

As of September 03, 2026, at 1:57 PM, Welspun Corp share price on NSE was trading at ₹2,644.80, up by 4.81% from the previous closing price. 

Conclusion 

The MOU between Perma-Pipe and Welspun Corp aims to establish pipe manufacturing and coating facilities in Jordan, supporting infrastructure projects in the region. The partnership focuses on enhancing local manufacturing capabilities and strengthening supply-chain resilience. 

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