TMK, Russia’s largest pipemaker, expects the first tenders to supply Gazprom’s China pipeline as early as the end of 2011, senior vice president Vladimir Shmatovich said Tuesday.
TMK opened a $330 million pipe-rolling shop at its Volzhsky mill in South Russia. The facility will boost its capacity to produce seamless pipes for oil and gas fields by 70 percent to 730,000 metric tons, Shmatovich told reporters in Volgograd. TMK plans to boost pipe sales more than 40 percent this year to 4 million metric tons, CEO Alexander Shiryayev said Tuesday in Volgograd.
(Bloomberg)
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