WELSPUN ANNOUNCES PLANS FOR SECOND EXPANSION, $100 MILLION INVESTMENT, 200 NEW JOBS
For the second time in its three-year history of operation in Arkansas, international pipe manufacturer Welspun Corp. Ltd announced on Thursday, February 23rd that it will expand again, adding 200 jobs and investing an additional $100 million in its Little Rock Port facility, the company’s first large-diameter pipe manufacturing location in North America. With this expansion, Welspun will bring total overall investment to $280 million since opening in April 2009.
Pipe produced by Welspun is primarily used in the gas and oil industry.
The announcement was made at a news conference hosted by Martin M. Rhodes, Chairman of the Board of the Little Rock Regional Chamber of Commerce.
Commenting on this investment, Mr. B. K. Goenka, Chairman of Welspun said, “We are extremely delighted at the performance of our Little Rock facility, which has cemented the firm’s global reach in servicing some of the largest oil and gas companies in the world. We believe that this new investment will pave the way for Welspun to continue on its path of becoming one of the most respected line-pipe companies in the world and we are thankful to the City of Little Rock for the support that they have extended in fulfilling our dream.”
Initially employing more than 300 people, the company announced its first expansion one year later that added 230 jobs and an additional $30 million investment.
“Welspun invested in Arkansas when the national economy was in bad shape,” Governor Mike Beebe said. “That faith in our workforce and our business community has paid off for both Welspun and Little Rock, and today they are reinforcing their confidence in us with another significant investment in Arkansas.”
Located on 740 acres adjacent to the Little Rock Port, Welspun’s state-of-the-art spiral pipe and coating facility has an annual production capacity of more than 350,000 tons of pipe.
“Welspun’s decision to develop a new small diameter pipe assembly line in Little Rock sends a strong signal to the economic development world that Little Rock is a prime location for business expansion in the U.S.,” said Little Rock Mayor Mark Stodola. “The City of Little Rock is pleased to partner with the Little Rock Regional Chamber and its private and public Stock in The Rock investors, the Little Rock Port, Metro Little Rock Alliance, AEDC and Governor’s Office in facilitating this third Welspun announcement in four years.
“Our citizens have a strong work ethic, and we are perfectly situated to easily reach the four corners of our country with port, rail, air and highway transportation systems,” Stodola continued. “Welspun, as both a new and expanding industry, understands this importance and is capitalizing on Little Rock’s becoming one of the preeminent pipe manufacturing locations in the world.”
Through this expansion, Welspun will expand their product line of steel pipes to include the production of 6-inch to 20-inch ERW steel pipes. The new manufacturing lines will be located in a second building on 44 acres purchased by the company. “Welspun has a strong history of growth and profitability in the oil & gas line pipe industry and is at the cusp of becoming a leading, global integrated pipe manufacturer,” said Dave Delie, president of Welspun Tubular. “The track-record of operational performance at Welspun is unique and the management is committed to building on our current, impressive capabilities.”
“Engineering excellence is the core to Welspun and we believe that with this investment, we will catapult Little Rock as an important destination in the “World of Pipe,” said Rajesh Mandawewala, managing director of Welspun. “We have full trust and confidence in Welspun’s management team and believe that the team will continue to deliver superlative results.”
About Welspun Corp Ltd Welspun Corp Ltd. formerly known as Welspun Gujarat Stahl Rohren Ltd., started its activities in 1995 and since then has supplied pipes for some of the most prestigious projects including the World’s deepest pipeline project in the Gulf of Mexico, U.S.A, heaviest pipeline project in the Persian Gulf, highest LNG pipeline project in Peru and longest pipeline project from Canada to the US. Welspun’s state-of-the-art Plate, Coil and Pipe Plants are located in Dahej and Anjar in Gujarat, India, Little Rock in Arkansas, US and now in Dammam in Saudi Arabia. The Company has recently set-up a Spiral Pipe mill in Mandya, Karnataka, India. Welspun has been the leader in quality, innovation and technology. New initiatives in WCL includes foray into infrastructure, upstream Oil & Gas and Energy. WCL is prepared to meet the growing demand and is in a position to meet the stringent requirements and standards of highest grade products and services.
About Stock in The Rock 2012 – 2016 The Chamber’s regional economic development efforts, which partnered to land the Welspun location/expansions, are funded by 89 (to date) investors. To invest and help lead the region’s economy, contact Jay Chesshir, 501.377.6002.