One of the largest Russian pipe producers, ChTPZ Group, has announced that it has signed a strategic cooperation agreement for 2010 with the Russian iron ore and steel producing company Metalloinvest Holding (Metalloinvest). The agreement was inked at the coordinating council held at ChTPZ within the framework of the long-term partnership agreement between the companies.
Accordingly, the main topic of discussion at the council was the increase of output and the improvement of the production technology for large diameter continuous cast billets (540-600 mm) and for strips for tubing to be used for the second phase of Transneft's East Siberia-Pacific Ocean oil pipeline project.
"We see the future of our business relations in efficient joint activity for the development of new products. Both companies are currently implementing large-scale projects with state aid for the modernization of existing and construction of new production facilities. In the future this will give us additional opportunities for cooperation," reads ChTPZ's statement.