Russian pipe producer Engelssky Tube Works has announced that it has started work on a program for modernization of its facilities . In 2011, it is scheduled to invest more than RUB 11 million ($402,600) in technical reequipment - three times more than in 2010.
The project implementation will improve the reliability of the equipment and increase productivity by minimizing of emergency downtime.
In 2010, Engelssky Tube Works' capital investments totaled Ruble 4 million ($146,400).