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OMK will not build a new complex

The crisis has had a negative impact on the activities of OMC. According to recent reports the company abandoned the construction of the complex, which produces seamless pipes for the oil and gas industry. The cost of the project in the Perm region of over 50 billion. RUB. The program to improve the Russian pipe industry, the project was the latest in the implementation of the most significant. In addition, it is the largest project in the metallurgical industry of Russia on formation of the new capacity.

The main shareholder of the UMC is Anatoly Sedykh. In 2012, the company received a loan from Sberbank for the erection of steel pipe and steel-smelting complex for 12 years. The amount was very impressive — 33.8 billion RUB… As a result, the contract was terminated by the OMC. Planned construction of the complex, worth 50 billion. RUBv Chusovoy. The main products of the complex provided for steel billet, billet for manufacturing springs and seamless pipes for the oil and gas sector. As representatives of the OMC, the project moved to the status of «impossible» due to the increased cost in half. In addition, because of the crisis it is not possible to give a realistic assessment of demand for products, manufactures complex.

Closing the project occurred on the background of a sharp weakening of national currency. At the same time expected increased cost of the equipment supplied from abroad. There was a limit of financing, higher interest rates, lower oil prices and a corresponding decrease in demand for pipe products. In connection with the decision preparatory processes terminated an agreement on the construction and supply of equipment will be dissolved. The loan agreement between the OMC and the Savings Bank also canceled. In addition, the company refused to provide her state guarantees in the amount of 21 billion. RUB. Employees participating in the project, the company plans to transfer to other plants.

According to the company, giving up too expensive project, OMK will reduce the investment program in 2015 to 5−6 billion. RUB.

For 2013 and 2014 total Russian pipe companies in the industry have invested about 30 billion. RUB. Company focused on the production of steel in recent years also do not seek to implement large-scale projects. Production capacity in the sector were built before, so now the industry is experiencing a chronic oversupply of products.

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