Russian pipe producing company United Metallurgical Company (OMK) has announced that it is continuing to implement a comprehensive program of technical re-equipment and modernization of casing, tubing and gas pipe production at its subsidiary Vyksa Steel Works.
OMK stated that the implementation of the modernization program will take several years, while the total value of the project amounts to RUB 40 billion ($694.16 million), including RUB 12 billion ($208.26 million) investment under the cooperation agreement signed last year with the government of the Nizhny Novgorod region in Russia for the development of pipe production in the urban district of Vyksa in Nizhny Novgorod.
Meanwhile, the company also stated that it has already started building a finishing center for 139.7-426.0 mm diameter pipes for the oil and gas sector in the industrial zone of the Vyksa district and a new complex for the production of 60.3-177.8 mm diameter pipes, also for the oil and gas sector.