India's Welspun Corp and Perma-Pipe International Holdings have inked a pact with the developers of Jordan's National Water Carrier Project and the Jordanian government to develop steel pipe manufacturing and advanced coatings in the country, according to a regulatory filing of the company on Wednesday, September 2.
Under the memorandum of understanding (MoU), Welspun Corp and Perma Pipe will establish a joint venture to develop and operate the pipe making facility to act as a manufacturing hub to supply pipes and related products for water, oil and gas and infrastructure projects in Jordan and surrounding geographies, the filing said.
The joint venture will combine Welspun's large-diameter steel pipe manufacturing capabilities with Perma-Pipe's expertise in anti-corrosion coatings, engineered piping systems and project execution, it said.
The companies are working through its technical, commercial, financing and regulatory requirements, including the design of the facilities, manufacturing capacity, coating technologies and necessary approvals, it added.
The proposed investment, the ownership structure of the joint venture, the manufacturing capacity or a timeline for the project have not yet been disclosed.
