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Flowserve secures Middle East project awards worth over US$150mn

Earlier this month, Flowserve Corp received two major project awards primarily for original equipment pumps from engineering, procurement and construction (EPC) contractors working on two significant Middle East-based projects.

Image copyright © Anton Balazh - Adobe Stock.

The awards are collectively worth more than US$150 million.

“With an enhanced selective bidding approach, we are confident in our ability to execute these awards and are pleased these projects were booked using this methodology. Our global project funnel continues to be robust and is up approximately 10% as of 31 March 2024, versus prior year,” said Scott Rowe, Flowserve’s president and CEO.

Rowe said the region is currently in the midst of an expected multi-year capital spending up-cycle.

“With our strong participation in the Middle East, we believe Flowserve is well-positioned to participate in several of the large projects still to come across diverse industries,” added Rowe. “Additionally, we expect both aftermarket and MRO opportunities to remain at elevated levels globally this year and beyond, based on enhanced activity and higher utilization rates.”