Perma-Pipe International Holdings, Inc. Announces $30 Million in Contract Awards and the Strategic Milestone Approval for Saudi Aramco

25.09.2025 - 07:17:09

Business Wire India

Perma-Pipe International Holdings, Inc. (NASDAQ: PPIH) today 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.

This milestone reinforces Perma-Pipe’s commitment to supporting the Kingdom’s infrastructure and energy ambitions, while also aligning with the Company’s vision of sustainable growth in high-potential international markets.

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.

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.”

Saleh Sagr, President and CEO of Perma-Pipe International Holdings, added: “Securing Saudi Aramco approval is another example of our successful business plan execution, including geographic, market and product expansion, which has resulted in rapidly increasing backlog and profitable growth. This landmark achievement for Perma-Pipe, underscores the strength of our technical capabilities and our commitment to the Kingdom. Combined with the $30 million in project awards in the third quarter across our global operations, these outcomes are the direct result of deliberate decisions, thoughtful planning, outstanding teamwork, and a clear vision for growth and impact. Every achievement highlighted in this update underscores our continued commitment to delivering results through smart, forward-looking strategies.”

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.

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, 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 fourteen locations in six countries.

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