Russia-based pipe producer United Metallurgical Company (
OMK) has stated that in the current year it plans to invest a total of RUB 18 billion ($0.5 billion) in the development of its facilities, including RUB 7 billion ($0.2 billion) in the construction of the pipe-steelmaking complex at Chusovoy Metallurgical Works. The rest will be spent on the completion of pipe plant modernization and the construction of new pipe coating lines at Vyksa Steel Works and in other projects.
In 2014, the company plans to produce about 650,000 mt of railway wheels and 2.1 million mt of steel pipes, including around 1 million mt of large diameter pipes.