Perma-Pipe secures $30M in new project awards, receives approval from Aramco

Perma-Pipe International (PPIH) Holdings announced that its Saudi Arabian business unit has received formal technical and commercial approval from Saudi Aramco, the world’s largest oil company. This approval significantly expands Perma-Pipe’s business opportunities in the Kingdom, enabling the company to directly serve the oil and gas sector. Until now, Perma-Pipe’s access to the Saudi market was primarily concentrated in district heating and cooling. With this new approval, the company is now well-positioned to participate in Saudi Arabia’s pipe coating market, the largest in the Middle East and among the largest globally, it said. The company also reported that its global operations have recently secured an additional $30M in new project awards, adding to its growing backlog and providing further validation of the increasing demand for Perma-Pipe’s engineered pipe coating and containment systems. Adham Sharkawi, Senior Vice President – MENA, said: “Gaining approval from Saudi Aramco has been a key objective in our Company’s strategic growth plan and is a major step forward for our operations in the Kingdom. It allows us to directly support one of the world’s leading energy companies with innovative solutions that meet the highest industry standards, while also positioning us for further growth in Saudi Arabia.”