Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) has announced the award of its first project to be executed in Qatar, marking a significant milestone in the company’s expansion into the region.
The contract, valued at US$2.4 million, will leverage Perma-Pipe’s fabrication expertise and the XTRU-THERM insulation system, which features a spray-applied polyurethane foam jacketed with a high-density polyethylene casing.
Adham Sharkawy, Senior Vice President of Perma-Pipe’s MENA region, emphasised the company’s commitment to timely delivery and customer service: “In response to this important award, we will begin executing the project from a temporary facility in Doha, ensuring timely delivery and uninterrupted service to our client.
“Simultaneously, we are advancing the construction of our permanent facility in Qatar, which will serve as a long-term base for our regional operations.
“We are deeply grateful to our customers for their continued trust and confidence in Perma-Pipe’s capabilities.”
Saleh Sagr, President of Perma-Pipe, highlighted the strategic importance of the move: “Expanding in Doha has been an important goal for Perma-Pipe and is a key step in expanding our presence in the MENA region.
“Our plan shows our strong commitment to the Qatari market and supports our goal for steady growth and local investment.
“The new facility will be an important base for our work in Qatar and will help us serve markets in Southeast Asia.”
David Mansfield, CEO, underscored the broader significance of the project: “This award signifies a major milestone for Perma-Pipe and aligns with our strategic expansion into Qatar.
“This project not only demonstrates the strength of our solutions but also plays a vital role in solidifying our position in the market.
“We are confident that this achievement will fuel our continued growth and further enhance our reputation as a trusted leader in the industry.”
Perma-Pipe International Holdings, Inc. is a global leader in pre-insulated piping and leak detection systems, serving industries such as oil and gas, district heating and cooling, and more.
The company operates fourteen locations across six countries, applying its engineering and fabrication expertise to address complex challenges in liquid transportation.
The company noted that this announcement contains forward-looking statements subject to various risks and uncertainties, including market conditions and operational factors, as detailed in its filings with the Securities and Exchange Commission.
