Heilongjiang Pipe to invest in pipe plant in Russia

Chinese pipe producer Heilongjiang Pipe Co. has announced that it will invest Ruble 550 million ($18.7 million) in a pipe and drilling equipment plant in Russia.
 
Of the total investment, Ruble 150 million ($5.1 million) will be spent on actual construction of the plant, while the remaining Ruble 400 million ($13.6 million) will be spent of purchase of equipment. The new plant will have easy access to rail and marine transportation.