Welspun Corp shares are in focus after the company signed a memorandum of understanding (MoU) for a pipe manufacturing joint venture in Jordan, a move that comes amid a strong run for the stock, which has gained 220% in 2026.

Under the proposed partnership, Welspun Corp and Perma-Pipe plan to establish a joint venture that would develop and operate an integrated pipe manufacturing and coating platform in Jordan. The facility is expected to cater to water, oil and gas, energy and infrastructure projects in Jordan as well as neighbouring regional markets. As the agreement is currently at the MoU stage, definitive terms such as ownership structure, investment size, and timelines would be established in subsequent agreements, which investors will be watching for.

Welspun Corp is one of the world's largest manufacturers of large-diameter steel pipes, with operations serving customers across the oil and gas, water, and infrastructure sectors. The company is part of the Welspun Group, a diversified Indian conglomerate with interests spanning steel, textiles, infrastructure, and energy. The proposed Jordan facility would extend Welspun Corp's manufacturing footprint beyond its existing operations in India and the United States, positioning it closer to Middle East demand.

Perma-Pipe is a US-based manufacturer of pre-insulated piping systems and leak-detection solutions, serving district heating and cooling, oil and gas, and industrial markets. The proposed joint venture would combine Welspun Corp's pipe manufacturing capabilities with Perma-Pipe's coating and specialty piping expertise to serve demand across Jordan and the wider region, where governments have been investing in water infrastructure and energy projects.

The announcement was reported by CNBC-TV18 on September 2, 2026 (source).