Perma-Pipe Announces Strategic Milestone Approval for Saudi Aramco

Perma-Pipe International Holdings, Inc. 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, a critical step forward in its long-term strategic plan to strengthen its presence and broaden its product offerings in the Middle East.

Until now, Perma-Pipe’s access to the Saudi market was primarily concentrated in district heating and cooling (DHC). 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.

The Company also reported that its global operations have recently secured an additional $30 million 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.

Perma-Pipe has operated in the Middle East for decades, and the Company continues to invest in local capabilities to support the Kingdom’s Vision 2030 objectives and its growing energy infrastructure as well as elsewhere throughout the Region.