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  Wednesday, December 11, 2019
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Russia's United Metallurgical Company on Tuesday launched a $1.7 billion project to build a new steel production facility
Russia's United Metallurgical Company (OMK) on Tuesday launched a $1.7 billion project to build a new steel production facility. The facility, Stan 5000, is designed to roll out broadsheet steel for the Vyksa metals plant in the Volga area to produce new-generation pipes for trunk and underwater gas and oil pipelines operated by Russian energy giant Gazprom, oil pipeline operator Transneft, and other companies. The new facility will enable OMK, one of Russia's largest producers of steel pipes, to boost large-diameter pipe output from 850,000 metric tons in 2006 to 2 million metric tons in 2007, and to receive additional revenue of about 40 billion rubles (about $1.5 billion) a year, the company said. Germany's SMS Demag AG has won a tender to deliver technology and equipment for the Stan 5000 project. The new facility is expected to launch production in the first quarter of 2010.
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