OMK starts building 50 bln rbl pipe facility at Vyksa Metal Works

MOSCOW, Apr 22 (PRIME) -- Russia’s United Metallurgical Company (OMK) has launched construction of a 50 billion ruble seamless pipes facility at its subsidiary Vyksa Metal Works, the company said in a statement on Monday.

“The goal of the project…is to satisfy current and future demand in line and threaded seamless pipes, including pipelines for difficult production conditions and directional drilling by oil and gas companies and companies that work in the power and machine-tool industries,” the company said quoting Dmitry Chernyshev, director of OMK’s department for asset development and investment.

“Its launch is to expand the assortment significantly and to help us enter a new market in Russia and abroad.”

The company plans to launch the facility with a design capacity of 500,000 tonnes, in 2021. Italian company Danieli will be the main supplier of equipment for the facility.

(63.9602 rubles – U.S. $1)

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