Italian company Tenaris has expressed its readiness to invest in production of pipes in Aktau, said Yelan Khairov, chairman of Investment Committee of Kazakhstan, speaking at a media briefing following the Kazakh-Italian Business Forum held in the Kazakh capital Astana.
The company plans to invest about $40 million during the first phase of the project. The construction of the pipe plant will start in March 2015, while commissioning will take place in the first quarter of 2016, Mr. Khairov said.
Tenaris is an Italian manufacturer and supplier of seamless and welded steel pipe products and provider of pipe handling, stocking and distribution services to the oil and gas, energy and mechanical industries.