03
Jun
12:51
TMK to reduce investments amid Western sanctions
Russian pipemaker TMK will reduce capital expenditure this year by 34% on-year to RUB 27 billion ($302 million), according to a company presentation.
Around RUB 18 billion will go to maintaining current capacities, and RUB 9 billion for development, Kallanish notes.
TMK said earlier it will continue to focus on its priority, domestic market, and is not expecting Western sanctions to have a significant impact on operations (see Kallanish passim).
The firm’…
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