Russia-based pipe producing company United Metallurgical Company (OMK) has stated that it plans to invest more that RUB 6.6 billion ($199.4 million) in 2014 to develop its subsidiary Vyksa Steel Works and its foundry-rolling complex.
The company will continue the upgrading of pipe mills at its second and third electric welding tube mills. In addition, the company will construct a new line for anticorrosion coating of large diameter pipes and a new facility for the production of railway wheels for high-speed trains. Also, the company plans to carry out work on the technical development of its sheet rolling mill MKS-5000.