Novosibirsk Iron and Steel Works intends to modernize its pipe manufacture.
“In 2018-2019 we will carry out an investment project to restructure pipe manufacture and purchase a pipe mill to replace outdated machinery, improve economic efficiency and increase pipe range”, the company said.
Investments are expected to total $4 million.
In 2017 NMZ increased revenue from 5.11 billion rubles to 6.21 billion rubles, but still received a net loss of 101 million rubles. (Ukrainian metal)