TMK and Rusnano set up precision stainless steel pipe production project
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The Russian pipe producer TMK Group (TMK) and the Russian Corporation of Nanotechnologies (Rusnano) have created a joint venture (JV) called TMK-INOX for the production of precision pipes of stainless steel and alloys at the facilities of TMK subsidiary Sinarsky Pipe Plant (SinTZ).
Accordingly, the joint TMK-Rusnano project aims to create modern high-tech production of pipes for special applications. The project implementation will improve the basic properties and characteristics of pipes, i.e., strength, ductility, corrosion resistance, geometric parameters and surface quality while reducing production costs. In addition, the project is expected to more than double the production of special types of pipes to over 7,000 mt for enterprises of the nuclear, heat power, engineering and chemical industries.
The shares of TMK and Rusnano in the joint project stand at 51 and 49 percent respectively. The registered capital amounts to Ruble 2.6 billion (about $85.3 million).