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Article updated: 2/6/2013 11:29 AM

MFRI lands $27 million deal for Saudi Arabia airport

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By Marketwire

Niles-based MFRI Inc. said its Perma-Pipe Saudi Arabia subsidiary has received new orders exceeding $27 million for the first phase of the district cooling system expansion project at King Abdul-Aziz International airport in Jeddah, Saudi Arabia.

These orders are in addition to the $23 million announced last November, bringing the total of major project work in Saudi Arabia to nearly $50 million.

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The King Abdul-Aziz International Airport is one of the largest projects in the recent history of the Saudi Arabia Kingdom. The passenger terminal complex comprises an area over 6.7 million square feet (622,000 square meters) with 46 gates, 96 boarding bridges including double deck access for the A380 Airbus. The total facilities span over 25,000 acres (100 square kilometers) including the chilled water distribution system, utility plants, utility tunnel, plant nursery, and transportation center with integrated rail station.

"This order represents a further validation of our strategy to expand our footprint to the rapidly developing Saudi market," said Fati Elgendy, president of Perma-Pipe.

Delivery is expected to start in the first fiscal quarter of 2013 and be completed in the fourth quarter.

"We plan to produce the insulated pipe, spools and fittings at our new factory in Dammam, Saudi Arabia with important support from our United Arab Emirates factory," Elgendy added. "Our team has been working for over one year pursuing this very prestigious order. The KAIA project coupled with work on expansion of the Holy Haram Mosque in Mecca positions us very well for a strong 2013 in the Middle East."

MFRI CEO Bradley Mautner said the company has spent two years investing in Saudi Arabia.

"The Jeddah Airport is the largest single project we have received since we started our business activities in the Middle East some 7 years ago," Mautner said. "Perma-Pipe has already successfully completed the supply of insulated piping systems to several other major airports in the U.A.E., Qatar, and Oman. Our best in class products, engineering skills and support services have proved to be a successful formula in establishing Perma-Pipe as the market leader in the region."

MFRI, Inc. is a multiline company engaged in pre-insulated specialty piping systems for oil and gas gathering, district heating and cooling and other applications; custom designed industrial filtration products to remove particulates from dry gas streams; industrial process cooling equipment to remove heat from molding, printing and other industrial processes; and installation of heating, ventilation and air conditioning for large buildings.

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