The company announced a new contract for the construction of a plant aimed at the manufacturing of pipes for the production of oil and gas without welding. The new plant should be put into service in 2021. The contract amount has not been revealed, but according to the local press it should exceed 200 million euros.
New contract in Russia for Danieli. The company announced a new contract for the construction of a plant aimed at the manufacturing of pipes for the production of oil and gas without welding. New complex commissioned by Omk for Vyksa Steel Works.
The company based in Buttrio, specialized in the supply of steel plants, will provide plant and equipment engineering, production of equipment, supervision through installation and putting into service and customer training. The new plant should be put into service in 2021. The contract amount has not been revealed, but according to the local press it should exceed 200 million euros.
"Our long-term strategy aims at developing an integrated production offer. Once completed, the project will allow our company to enter new market segments by offering customers quality products which meet the most advanced requirements, "said Dmitri Chernyshev, Omk's Chief Investment and Asset Development Officer.
Mediobanca Securities, which gained an outperform rating and has a target price of € 21.30, underlines that "this news confirms the good momentum for the unit which builds the group's plants, helped by steel prices".
In early February, Danieli also started a partnership with GFG Alliance to design and build a new high-tech plant for rails and section steels at the Whyalla Steelworks plant in Australia. The new plant will have a capacity of 750,000 tpy and will be an environmentally friendly structure which will increase production capacity while reducing waste.
(Source:Class Editori)
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