OMK to delay commissioning of new plate mill-5000 to July 2011

Russian pipe producer United Metallurgical Company (OMK) is to delay the commissioning of its new plate mill-5000, from the third quarter of 2010 to July 2011.
 
OMK started the construction of its new plate mill-5000 in May 2007, and expects its total investment in the project to exceed $2 billion. The mill-5000 will have an annual capacity of 1.2 million metric tons of wide sheet, and will be able to satisfy the wide sheet requirements of OMK's subsidiary Vyksa Steel Works.
 
In 2009, OMK plans to increase its pipe production by 21.9 percent year on year to 1.7 million mt, including one million mt of large diameter pipes - up 36 percent year on year.
The total investment in 2009 is to amount to Ruble 12.5  billion (approx. $356 million according to the current exchange rate).