OMK intends to create a modern complex to produce oil-and-gas and OCTG pipes.
Investments will exceed 40 billion rubles. The new pipe mills will start operating in 2018-2019, while the whole project will be finished by 2022.
“Modernization will cover 100% of our OCTG pipe capacities. In April we signed an agreement with Mitsubishi Corporation for the delivery of 2 mills. One will produce 60-178 mm pipes and will be assembled in the new pipes shop No. 1 in 2018. Another for 114-245 mm pipes will be constructed in the shop No. 5 in 2019-2020”, OMK president Vladimir Markin said. (Ukrainian metal)