Perma-Pipe International Holdings announces contract award of $14 million in Saudi Arabia
20 Septembre 2022 - 11:41PM
Business Wire
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today
announced its Saudi Arabian subsidiary has recently been awarded a
contract for $14.0 million for the King Salman Park Project -
Vision 2030. The project is expected to be executed in the fourth
quarter of 2022.
The project is part of major infrastructure developments planned
in Saudi Arabia’s Vision 2030. The project will utilize
Perma-Pipe’s pre-insulated pipes and fittings and the XTRU-THERM®
insulation system, a spray-applied polyurethane foam jacketed with
a high-density polyethylene.
Raed Al Saleh, General Manager for Perma-Pipe Saudi Arabia
states, “We are pleased to be part of the King Salman Park project,
and we are delighted that Al Haif Contracting have placed their
trust in Perma-Pipe. It is exciting to be part of this project that
will assert Riyadh as one of the most livable cities in the
world.”
Saleh Sagr, Senior Vice President for Perma-Pipe’s MENA region
commented, “I am glad to announce that this important project has
been assigned to Perma-Pipe. The King Salman Park project attests
to our leading market position in Saudi Arabia and gives us the
opportunity to demonstrate our expertise and our industry-leading
products and services to another new, strategically valuable
customer.”
David Mansfield, President and CEO commented, "The Saudi Arabian
market is becoming increasingly more active and important to us. We
are delighted with this award, and the opportunity to participate
in Saudi Arabia’s pursuit of its Vision 2030.”
Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a
global leader in pre-insulated piping and leak detection systems
for oil and gas gathering, district heating and cooling, and other
applications. It uses its extensive engineering and fabrication
expertise to develop piping solutions that solve complex challenges
regarding the safe and efficient transportation of many types of
liquids. In total, Perma-Pipe has operations at thirteen locations
in six countries.
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version on businesswire.com: https://www.businesswire.com/news/home/20220920006248/en/
Perma-Pipe International Holdings, Inc. David
Mansfield, President and CEO
Perma-Pipe Investor Relations
847.929.1200 investor@permapipe.com
Perma Pipe (NASDAQ:PPIH)
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