Welspun Corp Limited and Perma-Pipe International Holdings have signed a Memorandum of Understanding with the developers of Jordan’s National Water Carrier Project and the Jordanian government to establish pipe manufacturing and advanced coating facilities in the kingdom, the companies announced today.
The two companies intend to form a joint venture that will combine Welspun’s large-diameter steel pipe manufacturing capabilities with Perma-Pipe’s anti-corrosion coating systems and engineered piping solutions. Financial terms, ownership structure, and project timelines have not yet been disclosed and will be announced as definitive agreements are finalised.
Facilities to support Jordan’s National Water Carrier Project
The planned facilities are intended to support Jordan’s National Water Carrier Project, one of the country’s largest infrastructure initiatives, which aims to transport desalinated water from the Gulf of Aqaba via a major pipeline network to communities nationwide.
Beyond the water carrier project, the companies said the joint venture could serve oil and gas, energy, and broader infrastructure markets across the Levant and the Middle East, and may eventually support reconstruction activity in Syria, Lebanon, Iraq, and Gaza, as well as potential pipeline rerouting toward the Port of Aqaba.
Joint venture to target wider regional markets
Welspun Corp’s Managing Director and CEO, Vipul Mathur, said the investment aligned with the company’s strategy to expand manufacturing in strategically important markets. Perma-Pipe President and CEO Saleh Sagr described Jordan as a gateway to broader regional markets.
Jordan’s Minister of Water and Irrigation, Eng. Raed Abu Soud welcomed the partnership, citing the country’s need for reliable, high-quality infrastructure and local supply chain capabilities to support its water security goals.
Technical and regulatory work underway
The parties are currently working through technical, commercial, financing, and regulatory requirements. Perma-Pipe trades on the Nasdaq under the ticker PPIH. Welspun Corp is the flagship entity of the Welspun Group and operates manufacturing facilities in India, the United States, and Saudi Arabia.