VSW Named Winner of Regional Investment Project of the Year Award

Vyksa Steel Works (AO VSW, Nizhniy Novgorod Region, a United Metallurgical Company (AO OMK, Moscow) Subsidiary) has been named winner of the Investment Project of the Year Award presented by the Nizhniy Novgorod Regional Ministry of Investment Policy, Land, and Asset Management two years in a row. The facility was recognized in the Investment Venture of the Year category for proceeding with an integrated technical upgrade and revamping program in casing, tubing, and oil and gas line pipe.

The award ceremony was held in Nizhniy Novgorod and was attended by Nizhniy Novgorod Lieutenant Regional Governor Evgeny Liulin, members of the Region's executive, and the business community. The coveted award was presented to VSW Quality Director Dmitri Makhrov by Alexander Tsapin, Deputy General Manager of the Regional Chamber of Commerce and Industry.

“We are thankful to the Nizhniy Novgorod Regional Executive for this award and we appreciate that our capacity expansion initiatives find support from the Government of the Region. We expect that this large-scale investment will provide the market with the range of products it really wants and will enable us to offer our partners casing, tubing, and oil and gas line pipe with enhanced properties. This project will also create new jobs and provide an additional development impetus for Vyksa and the entire region”, said AO VSW Quality Director Dmitri Makhrov in his acceptance speech at the award ceremony.

Background

The integrated upgrade program will target VSW for a complete overhaul of the existing casing production, an acquisition of additional coupling capacity, and a corresponding upgrade in associated functions as well as an expansion of the existing oil and gas line pipe production and a new capability to apply weather and internal anti-corrosion coatings to small and medium-diameter pipes.

OMK is already proceeding with the construction of a high-tech finishing center for casings of diameters 139.7 to 426.0 mm with premium threaded couplings for the oil and gas industry in the Vyksa Municipal Industrial Park as well as the construction of a new manufacturing and finishing facility that will produce oil and gas line pipe, casing, and tubing of diameters 60.3 to 177.8 mm.

In 2016, VSW was already named winner of the Investment Project of the Year. The award was presented in recognition of a successful completion of three investment projects that were designed to expand the production of steel pipe and rolled goods.