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Note 26 - Agreement to Build a Welded Pipe Plant in West Siberia | 12 Months Ended
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Dec. 31, 2019
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Disclosure of joint ventures [text block] |
| 26 | Agreement to build a welded pipe plant in West Siberia
On February 5, 2019 Tenaris entered into an agreement with PAO Severstal to build a welded pipe plant to produce OCTG products in the Surgut area, West Siberia, Russian Federation. Tenaris holds a 49% interest in the company, while PAO Severstal owns the remaining 51%. The regulatory approvals and other customary conditions have been already obtained. The plant, which is estimated to require an investment of $280 million, is planned to have an annual production capacity of 300,000 tons. During the period, Tenaris contributed approximately $19.6 million in the project.

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