Tagmet will invest 2.4 billion rubles into the development until the end of the year

The investment company of OAO Taganrog Metallurgical Works has been formed in 2014 with the amount of 2.327 billion rubles, as informs the service of financial economic information Interfax.

In accordance with the results of the last year the actual volume of investments reached 2 billion 790.875 rubles. In this way, the volume of investments can go down by 13%.

The main reason for reduction of investments in 2014 in comparison with 2013 is a completion of basic works and launch of complex arc furnace.

The investments will be spent on the development of the premium segment OCTG (Oil Country Tubular Goods, oil tubes and pipes), organization of stable work of producing companies, and meeting the requirements of compliance monitoring authorities.

OAO Tagmet produces almost all kinds of metal tubes, including high-strength tubes with special characteristics, corrosion-resistant, with leak-proof connections, hot finished seamless steel tubes, drill-pipes with welded-on tool joints, pump-compressor pipes, casing pipes and sleeves to them, pipes for well repair, welded tubes, water and gas steel pipes. Steelmaking complex meets the requirements in steel pipe material entirely.