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Honestly....welding in a new piece when it is in the car....may be possible...but what are you going to to do it AFTER it has been welded in. How are you going to paint it or protect it with a coating.
I know I could make a radiator support. But why would I waste my time....especially when they are available. Cut, weld, bend steel, prep, prime and paint it. By the time I got done...I would have more into it than buying one.
YES...if you have a clutch fan on the water pump...you should have a shroud. But not knowing where you basically live in the world...you might be living in Antarctica where having to worry about keeping your engine cool is the LAST thing you need to worry about.