Perma-Pipe International Holdings Announces $6.7 Million Contract Awarded in India

SPRING, Texas–(BUSINESS WIRE)–Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced its subsidiary Perma-Pipe India Pvt. Ltd. (PPIL) has been awarded a $6.7 million contract by JSIW Infrastructure Pvt. Ltd. (JSIW) for application of a thermal insulation system on pipe to be used for the construction of the 12� diameter, 74 km long Mangla crude oil pipeline. The skin effect heat traced and insulated crude oil pipeline is being developed by HPCL Rajasthan Refinery Ltd (HRRL) (a joint venture company between HPCL and the Government of Rajasthan). The pipeline is established for the purpose of constructing a new refinery and petrochemical complex in Pachpadra Tehsil of District Barmer in the state of Rajasthan. Engineers India Limited (EIL) is the project management consultant for the pipeline project.

The project will utilize Perma-Pipe’s TRACE-THERM™ insulation system which is designed to ensure optimum heat management during the life of the pipeline. The system will have welded tracer tubes for heat tracing and spray-applied polyurethane foam jacketed with a high-density polyethylene casing. Prior to application of the insulation system, an anti-corrosion coating will be applied on tracer tubes and bends in Perma-Pipe’s newly commissioned custom coating facility. The project will begin execution in Perma-Pipe’s Gandhidham, Gujarat, India facility in the first quarter of 2021.

Rakesh Thakur, General Manager for Perma-Pipe India, states, “Perma-Pipe is excited to begin a new association with HRRL and EIL through this project by JSIW and is looking forward to working with them more in the future. PPIL always endeavors to give high quality insulation solutions to the various sectors it serves and is proud of being part of India’s developmental journey.”

Grant Dewbre, Sr. Vice President for Perma-Pipe’s region including the Middle East, Africa, and India, states, “We are grateful for the trust placed in us by JSIW, HRRL, and EIL and I am fully confident that we will exceed their expectations during the execution of the project.”

David Mansfield, President and CEO, commented, “This is a significant award for PPIL and the Perma-Pipe group. We are pleased to see projects in India and elsewhere moving forward during these challenging times.”

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.

Contacts

David Mansfield, President and CEO
Perma-Pipe Investor Relations
investor@permapipe.com
847.929.1200