FPI wins $138m Qatar contract


Dubai-based Future Pipe Industries (FPI), a Dubai-based maker of fibre glass pipes planning an IPO next week, said yesterday it won a contract worth at least $138 million (Dh507m) to supply equipment in Qatar.

The contract is for the supply of pipes and fittings for a sea water cooling system in an industrial park at Ras Laffan, in Qatar, FPI said in a statement.

FPI, through its subsidiary, Future Pipe Industries Qatar, has already supplied Fiberstrong for a portion of Ras Laffan’s piping systems in connection with Phase 1 and the category I of Phase 2. By the time Phase 2 is complete, FPI is expected to have delivered approximately 176,000 meters of Fiberstrong fiberglass pipes or equivalent to one-third the length of Qatar’s coastline.

FPI Fiberstrong pipe systems will be used for above and below ground seawater cooling lines, fire water and chlorination.

Located 80km north east of Doha, Ras Laffan City’s industrial port, operated by state-owned Qatar Petroleum (QP), is among the largest facilities in the world for the export of liquefied natural gas, gas that is cooled to a liquid for transport by ship. A common cooling water supply facility is critical given the scale of industries present there.
By 2010, QP expects demand for more than 1million cubic meters of cooled water per day, compared with supply of under 600,000 cubic metres now.

“This important contract demonstrates our ability to service some of the world’s largest infrastructure projects.  Our home market, the GCC, is the fastest growing fiberglass pipe market in the world and it is here that FPI has proved fiberglass can be the pipe solution of choice for infrastructure and industrial projects,” said FPI President and CEO Rami Makhzoumi.