TMK to enter stainless flats production

Russian pipemaker TMK will begin the production of stainless flat rolled products, with the support of the Ministry of Industry and Trade, says the press service of the President of Russia.

The design capacity of the proposed complex is up to 500,000 tonnes/year, Kallanish notes. Total investment is over RUB 100 billion ($1.36 billion). The production site will be in the city of Volzhsky, but the timing of the project has not been specified.

“Today, there is no production of flat products from stainless and corrosion-resistant steel grades in the country,” TMK chairman Dmitry Pumpyansky said during a meeting between Russian President Vladimir Putin and representatives of the business community.

Consumption in the Russian market of stainless flat products is about 300,000 t/y, of which 95% is imported, Pumpansky added.

“This is an impossible situation for our country, and all these years the implementation of this technologically complex project has always been constrained by the length of the construction period and vague prospects for recoupment,” he observes. “Today, our new calculations, taking into account the above activities on removing barriers in industrial construction and at the same time using available state support measures, show a significant reduction in construction time and a quite acceptable payback.”

TMK is confident that, as a result of these joint activities, Russia will become a leader in the production of special steels and alloys for all industries.

The pipemaker acquired earlier this month 86.54% of shares in Chelpipe, one of Russia’s leading large-diameter and OCTG pipe producers (see Kallanish passim).

TMK’s 2020 consolidated revenue declined 28% on-year to RUB 222.6 billion ($3 billion). The company expects pipe consumption to remain stable in 2021.

Svetoslav Abrossimov Bulgaria