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The joint venture, located in Qatar and named Threading and Mechanical Key Premium LLC, will focus on “repair of pipes and underground equipment, as well as threading of connections on various components of pipe columns” for oil and gas companies in the Gulf region, TMK said.
TMK’s total investment in the project runs to about $3.5 million. The commissioning of the centre is set for second quarter of 2013. Its annual production capacity will stand at approximately 10,000 tonnes of premium pipes.
TMK Middle East, the company’s sales subsidiary, had been active in the region for several years; and TMK had acquired a controlling state in the GIPI pipe plant in Oman.
“The launch of the joint venture will continue the development of TMK’s production and sales structure in the Middle East, providing the local oil and gas industry with a wide range of quality pipe products and expeditious services,” said Sergei Bilan, TMK’s vp for premium products and services.