Northwest Pipe Company Awarded Large Steel Pipe Contract on the Red River Valley Water Supply Project

Rhea-AI Summary

Northwest Pipe Company (Nasdaq: NWPX) has secured a contract to produce over eight miles of engineered steel water pipe for the Red River Valley Water Supply Project in North Dakota. This project aims to provide a stable water supply to central and eastern North Dakota, addressing potential drought impacts estimated at $32 billion. The company will manufacture 7,500 tons of 72-inch-diameter pipeline at its Saginaw, TX facility, with deliveries commencing this summer. The project is expected to benefit more than 35 cities and improve industrial development in the region.

Positive

• Secured contract for Red River Valley Water Supply Project, enhancing regional water infrastructure.
• Manufacturing 7,500 tons of engineered steel pipeline to mitigate drought impact.
• Potential to boost industrial development in North Dakota due to improved water supply.
• Project serves more than 35 cities, ensuring public water system reliability.

Negative

• None.

The Company will produce over eight miles of engineered steel water pipe for this water supply project in North Dakota.

VANCOUVER, Wash., March 30, 2022 /PRNewswire/ -- Northwest Pipe Company (Nasdaq: NWPX), a leading manufacturer of water-related infrastructure including engineered pipeline systems and precast products, has been selected by Garney Construction to manufacture engineered steel water transmission pipe for the latest segment of the Red River Valley Water Supply Project (RRVWSP) in central and eastern North Dakota,

The Garrison Diversion Conservancy District and Lake Agassiz Water Authority are co-sponsors of the RRVWSP, which will create a buried pipeline to carry water from the Missouri River near Washburn, ND, along Highway 200 to the Sheyenne River, above Lake Ashtabula. When complete, the RRVWSP will provide an emergency water supply to central and eastern North Dakota during times of water scarcity and drought.

The water will also provide opportunities for industrial development, as a current lack of industrial water supply has driven industries out of North Dakota. Without the pipeline, the state estimates that a 10-year drought similar to the 1930s dust bowl would have a $32 billion economic impact, which would be devastating to the state's communities and industries.

Northwest Pipe Company is manufacturing over 7,500 tons of 72-inch-diameter engineered steel pipeline for the Contract 5B of his project. The pipe, which is being manufactured at the Saginaw, TX facility, will start being delivered to the job site this summer. In addition, the Company is also supplying Permalok^Ò steel casing pipe for the intake on the Missouri River.

"The Red River project is a large-scale water program that will effect nearly half of the population of North Dakota. More than 35 cities and rural water systems will benefit from this drought mitigation project," states Scott Montross, President and CEO of Northwest Pipe Company. "We appreciate being part of the team on this massive water infrastructure project that will ensure adequate public water systems and economic stability for North Dakota."

About Northwest Pipe Company – Founded in 1966, Northwest Pipe Company is a leading manufacturer for water-related infrastructure products. In addition to being the largest manufacturer of engineered steel water pipeline systems in North America, the Company manufactures high-quality precast and reinforced concrete products; water, wastewater, and stormwater equipment; steel casing pipe; bar-wrapped concrete cylinder pipe; and one of the largest offerings of pipeline system joints, fittings, and specialized components. Strategically positioned to meet growing water and wastewater infrastructure needs, Northwest Pipe Company provides solution-based products for a wide range of markets under the ParkUSA, Geneva Pipe and Precast, and Permalok® lines. The Company's diverse team is committed to quality and innovation while demonstrating the Company's core values of accountability, commitment, and teamwork. The Company is headquartered in Vancouver, Washington, and has 13 manufacturing facilities across North America. Please visit www.nwpipe.com for more information.

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Contact:

Aaron Wilkins
Chief Financial Officer
Northwest Pipe Company
360-397-6294 • awilkins@nwpipe.com

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SOURCE Northwest Pipe Company

FAQ

What is the significance of the contract awarded to Northwest Pipe Company regarding the RRVWSP?

The contract enables Northwest Pipe Company to produce critical infrastructure for the Red River Valley Water Supply Project, which will provide a reliable water source to mitigate the impacts of drought in North Dakota.

How much steel pipe is Northwest Pipe Company manufacturing for the RRVWSP?

Northwest Pipe Company is manufacturing over 7,500 tons of 72-inch-diameter steel pipeline for the Red River Valley Water Supply Project.

What economic benefits does the RRVWSP offer to North Dakota?

The RRVWSP aims to prevent an estimated $32 billion in economic losses from drought, ensuring water availability for industrial development and public systems.

When will the steel pipe for the RRVWSP start being delivered?

The delivery of the steel pipe for the Red River Valley Water Supply Project is scheduled to begin this summer.

Which areas will benefit from the Red River Valley Water Supply Project?

The RRVWSP will benefit over 35 cities and rural water systems in central and eastern North Dakota.