The authorities of Yugra have provided land plots for the construction of a Severstal and Tenaris joint venture to produce welded pipes.
Severstal has started making project estimates, and until the end of the year will begin construction.
The new works will create 500 jobs and will provide payments to the budget at the level of 6 billion rubles in 5 years.
The company will produce 300 thousand tons of pipes per year. Investments will amount to $240 million. (Ukrainian metal)