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Contact(s):Scott Hardin, AEDC
(501) 682-7306 or (501) 944-2859

FOR IMMEDIATE RELEASE :
Saturday, June 30, 2007

India’s Welspun to Build $100 Million Manufacturing Facility in Little Rock, Employ 300

On Saturday morning, June 30th, Welspun Gujarat Stahl Rohren Ltd. (W.G.S.R.L) announced plans to build a manufacturing facility in Little Rock on a 740-acre site adjacent to the Little Rock Port Authority. Little Rock Regional Chamber of Commerce Chairman Russ Harrington (Baptist Health) hosted the event before a standing room only audience in the Chamber’s Deltic Timber Atrium.

The $100 million facility, once completed, will be capable of producing 300,000 net tons of tubular steel pipes annually for use in the oil and gas industry. The company will hire about 300 workers and hopes to begin production by spring 2008.

“This is a great day for Arkansas,” said Governor Mike Beebe. “Welspun could have chosen many other locations for their investment, and they chose Arkansas. Our workforce, infrastructure, and the natural benefits of the Arkansas River convinced Welspun to become our partners in progress. We welcome these great manufacturing jobs.”

W.G.S.R.L. is part of the $1 billion Welspun Group, the fastest growing company in India. Welspun has more than18,000 employees and a presence in over 50 countries.

Mr. B.K. Goenka, Vice Chairman and Managing Director, Welspun said, “We are happy to be here at Little Rock today – which has the advantage of a talented workforce, the right transportation opportunities, and above all, the right geographical location. We look forward to a long and prosperous future as partners in Little Rock.”

W.G.S.R.L. also has manufacturing facilities in Dahej and Anjar in Gujarat, India.

Little Rock Mayor Mark Stodola emphasized that the project is the culmination of efforts among state, local and private organizations. “Little Rock continues to prove that we are a world-class site for companies expanding their business opportunities. I appreciate the power of partnerships that enabled this deal to become a reality, and I welcome Welspun to the city of Little Rock with open arms”.

With majority of its production exported to the United States, Welspun has a very strong presence in the country and takes pride in supplying pipes for the world’s deepest pipeline for the “Independence Trail’ project in the Gulf of Mexico.

“Since our inception, we have ventured into unexplored territories and have emerged as global leaders,” said Mr. Bajra Mishra, CEO and Executive Director, W.G.S.R.L. “Today, after setting our foot in Arkansas, we hope to continue to prove our engineering excellence and be a comprehensive provider for state-of-the-art pipes and related niche products for the transportation of oil and gas.”

Prior to the formal announcement at the Chamber, a private ground-breaking ceremony was held at the Little Rock Port site.

Additional information can be found at www.welspun.com.

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