(MENAFNEditorial) Dubai, the United Arab Emirates, December 17, 2017 Interpipe, a leading global steel pipe and railway wheel producer, has reached a key milestone in its Middle East operations, with over a million tons of pipe products delivered to its various customers in the region over the past decade.
The company's milestone coincides with the 10th anniversary celebration of its Dubai office. Regional customers and partners attended the reception, where an awards ceremony was held to celebrate Interpipe's strong ties and successful cooperation with its strategic partners in the region. The company also summed up the results of a ten-year development, and discussed further cooperation with its partners.
Since 2007, the company has made significant investments in its production facilities, including developing and commissioning a state-of-the art steel-melting complex, Interpipe Steel, built from scratch; the launch of new finishing lines for both line pipes and oil country tubular goods (OCTG), and the modernization of testing units at all production assets. The last company enhancement, dated 2017, is a modernization of lines for premium OCTG production. The total amount of the investments into pipe and steel production has reached about $800 million.
Over the last decade, Interpipe has strengthened its R & D division and improved steel grades, expanded its size range, offered new services and developed new premium connections for complicated drilling conditions. Just recently, this year, the company launched its latest innovations and started production of the premium UPJ-M connection, which corresponds to the highest requirements for the premium products of a new generation.
Andrey Burtsev, Commercial Director for Middle East, Africa and Asia markets, Interpipe, commented on the occasion, 'Ten years ago we opened our Middle East hub in Dubai in order to be closer to our customers, provide high-level service and expand our business in the market. During these years of cooperation, a lot has been accomplished with the joint efforts of Ukrainian and Middle East companies. Interpipe maintains a strong presence in the oil & gas industry with 58.5% of its pipe supplies used in regional oil and gas projects over past ten years. Namely, the largest share in total supplies accounts 25% for the United Arab Emirates, 18% for Turkey and 13% for Egypt.
He continued, '41% of Interpipe's pipe exports in the region cater to the construction industry. Interpipe products have been used in a number of prominent construction projects including the Dubai Marina development in the UAE, King Fahad Medical City in the Kingdom of Saudi Arabia and Osman Gazi Bridge in Turkey. Interpipe's largest share of pipe supplies for construction industry is in the United Arab Emirates followed by Turkey and The Kingdom of Saudi Arabia, representing 30%, 22% and 19% respectively. The Middle East remains a top priority market in terms of further development.
Oleksandr Balanutsa, the Consul General of Ukraine in Dubai, commented, 'I am proud to open today's reception as a token of respect to Ukraine's partners in the Gulf countries. Ukraine has a strong political and economic relationship with the United Arab Emirates. Last year the trade turnover between the two countries reached $610 million. The results of 2017 will exceed last year's recorded economic activity. We also intensify our political dialogue and enhance strategic cooperation in space technologies development, aircraft building, energy and metal industries, and agriculture. The outcomes of the recent visit of the President of Ukraine, Petro Poroshenko to the UAE are another testament to these positive dynamics. I'm also confident that a visa-free agreement between our two countries will help bring the cooperation between Ukraine and UAE to a new level. We are pleased that prominent Ukrainian companies such as Interpipe contribute to the economic and infrastructure development of the Middle East.
Nazih Al Sayed, General Director, Offshore Engineering and Marketing LTD, said, 'Interpipe has been our trusted partner for more than 15 years, providing high-level technical expertise and quality service. In cooperation with Interpipe, we supplied pipe products for a number of iconic projects in the Gulf and particularly in the UAE, including Etihad Towers, Jumeirah Beach Residence and various MEP projects in Dubai and Abu-Dhabi, Muscat-Sohar Multi-Product Pipeline and OXY project in Oman, DNO ERBIL project, ADNOC group's various oil & gas projects, Dubai Petroleum's projects and many others. We continue developing together to offer end-users turn-key solutions.
MENAFN1712201700703082ID1096242411
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.