Welspun Corp. Ltd, an industrial pipe manufacturer, will invest $100 million in its facility adjacent to the Port of Little Rock, Arkansas, expanding its product line and adding 200 jobs.
Its plant primarily produces pipe used in the oil and gas industry. 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 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. Through this expansion the manufacturer will add to its product line of steel pipes to include the production of 6-inch to 20-inch ERW steel pipes.
With this expansion Welspun will bring its total overall investment in its plant to $280 million since opening in April 2009. 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."
"Welspun has a strong history of growth and profitability in the oil and gas line pipe industry and is at the cusp of becoming a leading, global integrated pipe manufacturer," said Dave Delie, president of Welspun Tubular. "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."
Initially employing more than 300 people, the company announced its first expansion one year later, adding 230 jobs and an additional $30 million investment.