Perma-Pipe International Holdings, Inc., a recognized global leader in pre-insulated piping systems and advanced leak detection technologies, has received a formal letter of award for an expansive development project in the Gulf Cooperation Council (GCC) region. The project, valued at over $43 million, underscores the company’s growing footprint in the region and its continued success in executing large-scale projects that demand sophisticated technical solutions.
The project will be executed from Perma-Pipe’s state-of-the-art facility in Abu Dhabi, leveraging the company’s expertise in thermal insulation and anti-corrosion coatings. The scope of work includes the application of the TRACE-THERM® insulation system, a high-performance solution involving spray-applied polyurethane foam encased in a robust high-density polyethylene jacket. Additionally, Perma-Pipe’s advanced anti-corrosion coatings and fabrication capabilities will play a pivotal role in ensuring the project’s durability and efficiency.
Scheduled Start in Q3 2025
Project activities are expected to commence in the third quarter of 2025. This timeline aligns with the increasing demand for technologically advanced solutions in the oil and gas sector, as well as other critical industries in the GCC region. The award further solidifies Perma-Pipe’s position as a preferred partner for technically challenging projects that require innovative engineering and dependable delivery.
Leadership Commentary
Saleh Sagr, Senior Vice President for Perma-Pipe’s Middle East and North Africa (MENA) region, expressed his gratitude and enthusiasm regarding the award:
“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. We would like to thank our customers for this significant award.”
David Mansfield, President and CEO of Perma-Pipe, also commented on the importance of the project:
“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 & gas markets worldwide. This project continues an increase in large-scale project activity we are seeing globally and, when coupled with other recently announced project awards, further strengthens our record backlog position heading into 2025.”
A Track Record of Success
This award is another testament to Perma-Pipe’s ability to deliver cutting-edge solutions for demanding projects in the oil and gas industry, district heating and cooling systems, and other critical applications. Over the years, the company has established itself as a trusted partner in the GCC region, driven by its commitment to innovation, precision, and customer satisfaction.
The TRACE-THERM® insulation system, which will be a cornerstone of this project, is a standout feature in Perma-Pipe’s portfolio. It is specifically designed to provide superior thermal efficiency and long-term protection for piping systems operating in harsh environments. Along with the company’s anti-corrosion coatings, these solutions are vital for ensuring the safe and efficient transportation of various liquids, including hydrocarbons and other industrial fluids.
Expanding Global Footprint
This project award reflects Perma-Pipe’s growing influence not only in the GCC region but also on a global scale. The company operates from fifteen locations across six countries, providing engineering and fabrication expertise to meet complex challenges. With its extensive experience and cutting-edge technology, Perma-Pipe has become synonymous with reliability and innovation in the industry.
The project also contributes to Perma-Pipe’s ongoing strategy of focusing on highly active oil and gas markets worldwide. With a sharp rise in large-scale project activity globally, Perma-Pipe continues to build a robust backlog of orders, ensuring a strong financial outlook for the coming years.
About Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH), commonly known as Perma-Pipe, is a global leader in providing pre-insulated piping systems and advanced leak detection technologies. The company serves a broad range of industries, including oil and gas, district heating and cooling, and industrial applications.
Leveraging its engineering and fabrication expertise, Perma-Pipe designs and delivers innovative piping solutions that address the complex challenges of transporting liquids safely and efficiently. The company’s product offerings include pre-insulated piping systems, anti-corrosion coatings, and advanced leak detection technologies that are engineered to meet the highest standards of quality and reliability.
With operations spanning six countries, Perma-Pipe continues to deliver exceptional value to its customers through innovative solutions, reliable service, and a deep commitment to quality. This latest project in the GCC region reaffirms the company’s status as a key player in the global market for pre-insulated piping systems and related technologies.
