Welspun Corp and Perma-Pipe International Holdings have signed a memorandum of understanding with Jordan's National Water Carrier Project developers and the Jordanian government to establish a joint venture for pipe manufacturing and advanced coating facilities in Jordan. According to the latest reports from CNBC TV18, the proposed venture will set up pipe manufacturing and coating facilities targeting water, oil and gas, energy and infrastructure projects across the region. The partnership combines Welspun's large-diameter steel-pipe manufacturing capabilities with Perma-Pipe's expertise in anti-corrosion coatings, engineered piping systems and project execution. The project is currently in early stages, with both companies working through technical, commercial, financing and regulatory requirements including facility design, manufacturing capacity, coating technologies and necessary approvals.
Artificial Intelligence has created a significant supply bottleneck for memory chips and now a power problem that is driving demand for gas pipelines, cooling systems, and specialized piping. According to reports from The Financial Express, JLL estimates the global data centre capacity to almost double from 103 gigawatts (GW) in 2025 to 200 GW by 2030, requiring up to $3 trillion of investment. Data centre electricity consumption is expected to rise 26% in 2026 alone, pushing developers to look beyond the grid. In the US, data centre projects are increasingly being paired with gas-fired power plants to secure reliable electricity, creating opportunities in the AI infrastructure chain for pipe manufacturers.
Welspun Corp is the largest player globally in the large-diameter line pipe industry, holding 33%-35% of the US line pipe market. As reported by The Financial Express, the company's Large-Diameter Line Pipes span three types: Longitudinal Submerged Arc Welded (LSAW), Helical Submerged Arc Welded (HSAW), and High-Frequency Induction Welded (HFIW). The company's US pipeline portfolio is currently divided between approximately LNG export lines (75%) and data centre-themed projects (25%), with management expecting order bookings to progressively shift further in favor of data centres. Welspun's US capacity is booked through FY28, with the company securing a major order worth ₹17,200 crore to be executed between FY28 and FY29. The company's shares closed 6.91% higher at ₹2,556.30 on September 1 following the Jordan JV announcement.
DEE Development Engineers (DDEL) is India's largest company in process piping solutions, ranking among the top five globally. According to The Financial Express, the company provides engineering solutions to high-entry-barrier sectors like oil and gas, petrochemicals, power, and infrastructure, operating 7 manufacturing facilities across India and Thailand with annual capacity of 93,500 metric tonnes of Process Piping capacity and 32,400 MT of Heavy Fabrication capacity. The company's Thailand plant (14,500 MTPA) supplies specialized HRSG piping to global OEMs like Siemens, GE, and Nooter Eriksen, with the plant 100% booked for the next three years.
Both companies delivered robust Q1FY27 results, demonstrating strong execution in the AI infrastructure boom. Welspun Corp reported revenue of ₹4,081 crore, up 15% year-on-year, with EBITDA surging 35% to ₹756 crore and margins expanding by 270 bps to 18.5%. The company secured a major order worth ₹17,200 crore and holds a global order book of ₹42,100 crore. DEE Development achieved revenue of ₹294.5 crore, up 31.6% year-on-year, with EBITDA growing 38.7% to ₹49.7 crore and margins expanding 86 bps to 16.9%. The company maintains an order book of ₹2,428 crore providing two years of revenue visibility. Beyond water infrastructure, Welspun sees potential demand from onshore and offshore oil and gas projects, reconstruction activity across the Middle East and emerging hydrogen and carbon capture, utilisation and storage projects.
