TMK invests 22m euros in CSR

The Russian TMK Group, the second largest piping manufacturer in the world, which took over Combinatul Siderurgic Resita (Resita Steel Plant - CSR) last year, made 12 million-dollar (over 10 million euros) investments this year in order to address the environmental issues of the Resita-based company. The value of the investment programme TMK is running at CSR amounts to 26 million dollars (some 22 million euros). "Investments pertaining to the first stage, included in the privatisation contract, were initially appraised by the plant and by the AVAS (State Assets Resolution Authority) as standing at 8.089 million dollars. However, in order to address the serious environmental issues the plant is facing, in real terms, and in order to build high performance installations, the value of investments amounts to some 26 million dollars," stated Adrian Popescu, the representative of TMK in Romania. ZF