The Ukrainian pipe producer Interpipe Corporation has announced that it has taken out more that $500 million in credit to finance the construction of its new electric smelting unit.
The new unit is being constructed at the premises of Interpipe's Nizhnedneprovsk Pipe Works (NDTZ) plant. The construction was started in February of last year and will take 26 months to complete.
The project worth $600 million will fully satisfy Interpipe's needs in crude steel.
All necessary equipment is being supplied by Italian firm Danieli.