LITTLE ROCK, Ark. (AP) — Pipe manufacturer Welspun Corp. Ltd. said Thursday that it plans to add 200 jobs and invest $100 million as it expands its presence in Little Rock, Ark.
The latest expansion from the company, which makes pipe used in the oil and gas industries, comes nearly three years after production began at its Little Rock facility.
Arkansas Gov. Mike Beebe praised the expansion during an announcement at the Little Rock Regional Chamber of Commerce.
"It shows a commitment on behalf of the city, the county, the economic development leaders here, the confidence that Welspun and the leadership of Welspun has placed in Arkansas," he said.
Welspun chairman B.K. Goenka said that the company is delighted at the performance of the Little Rock plant and thanked city and state leaders for their support.
The company said the $100 million will be invested in two phases, with $70 million to $75 million to be spent by the end of the year. The rest is to follow shortly after.
The facility is located on 740 acres near the Port of Little Rock and has an annual production capacity of more than 350,000 tons of pipe.
Welspun plans to expand their product lines and make different sizes of pipes.