Perma-Pipe International Holdings, Inc. has announced that it has received a formal letter of award for a high-value development project in the Gulf Cooperation Council (GCC) region. The project, estimated to exceed $43 million in value, is another testament to the company’s growing influence in the global energy and infrastructure sectors. Perma-Pipe will execute the project through its advanced facility in Abu Dhabi, where it will provide thermal insulation, anti-corrosion coatings, and a suite of other specialized services. The commencement of the project is scheduled for the third quarter of 2025, marking an important addition to the company’s already robust portfolio.
Innovative Technologies at the Forefront
This development project will showcase Perma-Pipe’s cutting-edge capabilities, particularly its expertise in anti-corrosion coatings and thermal insulation systems. Central to the project is the TRACE-THERM® insulation system, a proprietary technology that combines spray-applied polyurethane foam with a high-density polyethylene casing. This innovative system is designed to meet the demanding requirements of modern energy infrastructure, ensuring superior thermal performance and protection against harsh environmental conditions.
The incorporation of these advanced solutions highlights Perma-Pipe’s commitment to innovation and its ability to deliver tailored solutions for complex and technically challenging projects. These capabilities are particularly valuable in the GCC region, where extreme temperatures and corrosive environments demand the highest levels of performance and reliability.
Leadership Comments on the Milestone
Reflecting on the award, Saleh Sagr, Senior Vice President for Perma-Pipe’s Middle East and North Africa (MENA) region, emphasized the company’s proven track record in the region. “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,” Sagr said.
David Mansfield, President and Chief Executive Officer of Perma-Pipe, echoed these sentiments while highlighting the broader implications 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 and gas markets worldwide,” Mansfield stated. “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.”
These statements underline the importance of this project in reinforcing Perma-Pipe’s strategic focus on growth markets and its ability to meet the evolving needs of the energy sector.
A Strategic Focus on the GCC Region
The GCC region has emerged as a key market for Perma-Pipe, with its vast oil and gas reserves and ongoing investments in infrastructure development. The latest project award builds on the company’s extensive experience in the region, which includes a series of successful collaborations with prominent industry players. By leveraging its advanced technologies and expertise, Perma-Pipe has established itself as a trusted partner for delivering high-performance solutions tailored to the unique challenges of the region.
The Abu Dhabi facility, a cornerstone of Perma-Pipe’s operations in the MENA region, plays a critical role in supporting the company’s growth strategy. Equipped with state-of-the-art technology and staffed by a highly skilled workforce, the facility enables Perma-Pipe to deliver world-class solutions with efficiency and precision. The new project will further strengthen the facility’s position as a hub for innovation and excellence.
Perma-Pipe’s Global Leadership
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is recognized as a global leader in the design and manufacture of pre-insulated piping systems and leak detection solutions. With a diverse portfolio of applications, the company serves critical industries such as oil and gas, district heating and cooling, and industrial fluid transportation.
Headquartered in the United States, Perma-Pipe operates in fifteen locations across six countries, providing it with a truly global reach. Its expertise in engineering and fabrication enables the company to develop customized piping solutions that address complex challenges, ensuring the safe and efficient transport of liquids in a variety of environments.
The company’s proprietary technologies, such as its anti-corrosion coatings and advanced insulation systems, set it apart from competitors. These innovations not only enhance performance but also contribute to greater sustainability by improving energy efficiency and reducing environmental impact.
A Promising Future
The latest project award in the GCC region is a significant step forward for Perma-Pipe as it continues to expand its presence in key global markets. The company’s strategic focus on high-growth regions and its investment in advanced technologies position it well for sustained success. As demand for energy infrastructure solutions continues to rise, Perma-Pipe remains committed to delivering innovative and reliable solutions that address the industry’s most pressing challenges.
With a growing project backlog and a strong pipeline of opportunities, Perma-Pipe is poised for a promising future. The company’s dedication to excellence, coupled with its ability to adapt to the unique requirements of diverse markets, ensures that it will remain a leader in the field for years to come.
About Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. is a premier provider of pre-insulated piping systems and leak detection technologies for a variety of industries, including oil and gas, district heating and cooling, and industrial applications. The company combines extensive engineering expertise with innovative solutions to meet the needs of customers around the globe.
With operations spanning six countries, Perma-Pipe’s commitment to quality and innovation has earned it a reputation for excellence. The company’s advanced technologies and comprehensive services make it a trusted partner for infrastructure projects of all sizes and complexities.
