Turkish Steel Pipe Manufacturer to Invest in U.S.
Borusan Mannesmann, Turkey’s leading steel pipe manufacturer, will invest $150 million to establish a steel pipe manufacturing plant in the U.S. to cater to the energy sector. Scheduled to start production by mid-2014, the plant is designed to produce the thick-walled and high-strength pipes suitable for state-of-the-art, advanced OCTG technology used in shale gas production. Texas and Oklahoma are the leading states to attract the investment through their incentive programs. The facility, with a planned annual production capacity of 300,000 tons, will be built on nearly 125 acres of land and create 350 jobs.