India's Welspun Corp. and Perma-Pipe International Holdings have signed an agreement with the developers of Jordan's National Water Transport project and the Jordanian government to develop the production of steel pipes and advanced coatings in the country, according to an official statement from the company released on Wednesday, September 2.
According to the memorandum of understanding (MoU), Welspun Corp and Perma Pipe will establish a joint venture to develop and operate a pipe-making facility to act as an industrial hub for the production of pipes and related products for water, oil and gas, infrastructure projects in Jordan and neighboring regions, the filing said.
The joint venture will combine welspun's large diameter steel pipe production base with perma-pipe experience in anti-corrosion coatings, pipeline engineering systems and project execution, he said.
the company is working on technical, commercial, financial and regulatory requirements, including facility design, production facilities, coating technologies and necessary approvals.
The proposed investments, the ownership structure of the joint venture, the production facilities or the timing of the project must be agreed upon. It has not been disclosed yet.
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