ÒÌÊ Establishes Service JV in UAE
TMK, a leading global manufacturer and supplier of steel pipes for the oil and gas industry, has established a service joint venture with EMDAD in Abu Dhabi, the United Arab Emirates.
The service and support center, 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 operating in the Arabian Gulf region. TMK's total investment in the project runs into about USD 3.5m. The commissioning of the center is set for Q2 2013. Its annual production capacity will stand at approximately 10,000 tonnes of premium pipes.
TMK Middle East, the Company’s sales subsidiary, has been working in the region for several years already. In December 2012, TMK acquired a controlling stake 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," says Sergei Bilan, TMK’s Vice President for Premium Products and Services.