7 Nov 2016 16:08

TMK in next four years to supply Petroleum Development Oman with pipes for $200 mln

MOSCOW. Nov 7 (Interfax) - TMK Gulf International Pipe Industry (TMK GIPI) has signed a four-year contract with Petroleum Development Oman (PDO) for $200 million.

TMK said in a statement that according to the agreement, the pipe company will produce and supply pipes with various diameters to Oman.

TMK is Russia's largest pipe producer and one of the top three pipe companies in the world. TMK has about 30 plants in Russia, the United States, Romania, Kazakhstan and Oman, and two research centers in Russia and the U.S. TMK's principal beneficiary is company board chairman Dmitry Pumyansky, who owns 65.05% of the pipe company through TMK Steel Holding Ltd. The free float is 32.24%.