Welspun Corp Approves Capex, Expands USA Facility, Partners in Jordan, and Re-appoints Directors
Welspun Corp approved financial results for Q2 FY27. The company will re-appoint Manish Chokhani and Anjani Kumar Agrawal as Independent Directors. A Capex of USD 115 million (approx. ₹950 crore) is approved for a new USA facility. A partnership with Perma-Pipe in Jordan involves USD 125 million (approx. ₹1040 crore) for pipe manufacturing and coating facilities. Additionally, Welspun acquired a 49% stake in a new IFBE coating JV in India.
The substantial capital expenditure in the USA, the new international joint venture in Jordan, and the domestic coating facility JV represent major strategic initiatives that are expected to significantly impact the company's future revenue streams, market position, and operational capabilities.
The announcement details significant capital expenditures, strategic partnerships, and capacity expansions, indicating positive growth and future prospects for the company. The re-appointment of directors also suggests stability.
Welspun Corp Limited (WCL) announced a series of significant strategic decisions following its Board of Directors meeting held on October 29, 2026. The company approved the Unaudited Financial Results for the quarter and half-year ended September 30, 2026, along with their limited review reports.
Key decisions included the re-appointment of Mr. Manish Chokhani and Mr. Anjani Kumar Agrawal as Independent Directors for second terms, subject to shareholder approval. These re-appointments are effective from February 2, 2027, and April 1, 2027, respectively.
In a strategic move to bolster its presence in the USA, the Board approved a capital expenditure of USD 115 million (approximately ₹950 crore) for an additional Spiral (HSAW) Pipe facility at its existing location in Little Rock, Arkansas. This expansion aims to increase the HSAW pipes capacity by 225 KMTPA, with the new facility expected to be operational by March 2028.
Furthermore, Welspun Corp announced a significant partnership with Perma-Pipe International Holdings, Inc. to establish pipe manufacturing and coating facilities in Jordan. The total project investment is estimated at up to USD 125 million (approximately ₹1040 crore), to be funded on a 50:50 basis by both partners. These facilities will produce and coat pipes ranging from 24" to 120" and are intended to serve regional water, oil & gas, energy, and infrastructure projects.
Additionally, WCL has acquired a 49% stake in Welspun Special Coating Private Limited (WSCPL) for ₹49,000, with Perma-Pipe Qatar acquiring the remaining 51%. This joint venture, with a total estimated investment of up to ₹110 crore, will focus on internal fusion bonded epoxy (IFBE) coating works in India, positioning the company favorably for domestic and export orders.
The Board meeting commenced at 11:00 a.m. and concluded at 2:25 p.m.
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