LITTLE ROCK, Ark., Nov. 01, 2024 (GLOBE NEWSWIRE) -- Welspun Tubular LLC has announced an investment of $100 million to expand and upgrade its pipe portfolio in the United States. The site selection was announced by Welspun representatives along with the Arkansas Economic Development Commission and the Little Rock Regional Chamber. The expansion is expected to add an additional 175 jobs at its plant in Little Rock, Arkansas. The company is expected to announce the groundbreaking in the coming weeks.
Welspun Tubular LLC is a subsidiary of Welspun Corp Ltd, one of the leading manufacturers of large diameter line pipes globally. Commenting on this development, Mr. Vipul Mathur, Managing Director and CEO, Welspun Corp Limited said, “This investment will enable us to further expand our leadership position in the oil and gas segment in North American market by enriching our product portfolio. Our outlook for the USA market remains extremely positive.”
This enhancement of product portfolio involves inclusion of pipe sizes up to 24-inch outside diameter and 0.750-inch wall thickness with grades up to X80 for a capacity of 350 KMTPA.
The upgrade is expected to be completed by December 2025 with production to commence in Q1 2026.
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Mr. Gerald Mosley, CEO, Welspun Tubular, said “We are excited to make this expansion in Arkansas and add additional high skilled, high wage jobs to the region.”
“Welspun Tubular's $100 million investment helps solidify the Port of Little Rock’s role as a manufacturing hub for Central Arkansas’ economy. Our access to river, rail and road, combined with low taxes and pro-business leadership, help get projects like this done quickly,” said Governor Sanders.
Mr. Mihir Desai, Head – Commercial, Welspun Tubular, added, “The expansion and added capacity will increase the volume of barge, rail and truck, enhancing revenue for the Port of Little Rock and improving local infrastructure.”
“Foreign direct investment is a key part of our economic development strategy in Arkansas, and it has paid off today with a significant investment from Welspun Tubular,” said Clint O’Neal, Executive Director of the Arkansas Economic Development Commission. “Thank you to the leadership team at Welspun for your investment and your confidence in Arkansas, we look forward to seeing your continued growth at the Port of Little Rock.”
“As Mayor, my vision is to unite Little Rock and celebrate the diversity that makes our city a melting pot of people, religions, and sectors. Today’s announcement is proof that Little Rock is an attractive destination that welcomes investment from around the world,” said Little Rock Mayor Frank Scott Jr. “This announcement further solidifies the necessity of expanding the Port of Little Rock to continue attracting investment that creates jobs for our residents.”
“The Chamber maintains a decades-long relationship with Welspun, dating back to the work it took to land the company’s first investment in 2007,” said Jay Chesshir, President and CEO of the Little Rock Regional Chamber. “Welspun and its executives have become more than colleagues, they have become friends, and we thank them for this latest announcement, a significant investment that will impact hundreds of lives across our region.”
“When Welspun chose Little Rock for their North American operation in 2007, it was a watershed moment for the Port and the City of Little Rock. This international manufacturer quickly became one of the Port’s flagship companies and we are delighted to have them as an industrial partner. Having Welspun choose Little Rock for this major expansion will not only bring jobs and investment to our community, it will continue to affirm the value of the Port as a beneficial location to manufacture goods. The Little Rock Port Authority Board congratulates Welspun and their continued growth,” said Bryan Day, Executive Director, Little Rock Port Authority.
For announcement photos, click here.
About the Arkansas Economic Development Commission
At AEDC, we know economic advancement doesn’t happen by accident. We work strategically with businesses and communities to create strong economic opportunities, making Arkansas the natural choice for success. AEDC is a division of the Arkansas Department of Commerce. For more information, visit ArkansasEDC.com.
About the Little Rock Regional Chamber
The Little Rock Regional Chamber is the principal business-driven leadership organization responsible for fostering the economic growth and development of the Little Rock region to ensure that business and industry may operate profitably and enhance the earning opportunities and quality of life for every citizen. For more information, visit littlerockchamber.com.
Media Contact:
Tyler Hale
Arkansas Department of Commerce
501-410-7883
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/43ac37ea-e049-4b86-b317-fc4b9cbaa8d1
