TMK, the largest producer of steel pipes for the oil and gas industry in Russia, said at an energy conference in Moscow that the company could become one of the investors in Saudi Arabia.
The head of TMK Dmitry Pumpyansky said that the company is preparing to become an investor in Saudi Arabia, and not just as a buyer.
He saw that the Middle Eastern country was trying to be less dependent on oil exports and opening up more foreign investment.
TMK currently produces steel pipes for the oil and gas industry, petrochemical industry and construction, and also operates in Europe and the United States.
The American company Tenaris was interested in acquiring TMK's internal business IPSCO Tubulars for US $ 1.2 billion.
Russian TMK is considering investing in Saudi Arabia
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