Severstal says invests 1 bln rbl in upgrade of Izhora Pipe Mill

MOSCOW, Nov 21 (PRIME) -- Russian steelmaker Severstal has invested about 1 billion rubles in an upgrade of subsidiary Izhora Pipe Mill that would allow the plant to produce electric welded pipes with diameters starting from 508 millimeters, the company said in a statement on Thursday.

The upgrade’s goal is to set up production of pipes for the Yuzhno-Kirinskoye gas condensate field of Russian gas giant Gazprom. The plant expects production of first pipes for the field to start in early 2020, the company said.

(64.0213 rubles – U.S. $1)

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