TMK to build a pipe plant in Venezuela

TMK, one of the major pipe producers in Russia, and the Ministry of Heavy and Mining Industry of Venezuela have signed a Protocol of Intent in regard to conclusion of Cooperation Agreement. Under the signed agreement, TMK is to develop the project on construction of a seamless pipe plant in Bolivar state of Venezuela. The pipes would be supplied to Venezuela's oil and gas industry as well as to other counties of Latin America and the Caribbean.