The project to construct a pipe works in Surgut, a joint venture of Severstal and Tenaris, is being carried out according to the schedule.
The first start of the enterprise is planned for 2021. The full capacity will be reached in 2023-2024.
The domestic market is expected to get the main volume of products.
The pipe works will produce 300 thousand tons of pipes per year.
Investments in the project will amount to $240 million.
Severstal will own 51% in the project and Tenaris – 49%. (Ukrainian metal)