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Perma-Pipe International Holdings secures US$43m contract in GCC region

13 Jan, 2025
Perma-Pipe International Holdings secures $43m contract in GCC region



Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has announced a significant contract award for a development project in the Gulf Cooperation Council (GCC) region.

The company will provide thermal insulation, anti-corrosion coatings, and related services from its Abu Dhabi facility, with the project valued at over US$43 million.

The project, set to commence in the third quarter of 2025, will utilise Perma-Pipe’s advanced anti-corrosion coatings capabilities, fabrication expertise, and the TRACE-THERM insulation system.

This system features spray-applied polyurethane foam jacketed with high-density polyethylene casing.

Saleh Sagr, Senior Vice President for Perma-Pipe’s MENA region, expressed satisfaction with the award, stating: “This award follows the successful execution of numerous development projects in the region.

“Our differentiated coating solutions have proven to be well-suited for technically challenging projects.”

David Mansfield, President and CEO of Perma-Pipe, highlighted the strategic importance of this contract, stating: “This award provides evidence that our technologies are well-positioned to meet the complex requirements in virtually all geographies as we continue our focus on highly active oil and gas markets worldwide.”

The new contract contributes to Perma-Pipe’s record backlog position heading into 2025, reflecting an increase in large-scale project activity globally.

This development underscores the company’s strong market position and technological capabilities in the oil and gas sector.

Perma-Pipe International Holdings, Inc., a global leader in pre-insulated piping and leak detection systems, continues to leverage its engineering and fabrication expertise to provide innovative solutions for complex challenges in the transportation of various liquids.

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