ASHGABAT, Turkmenistan, Dec. 26
By Huseyn Hasanov – Trend:
Russia’s Chelyabinsk Pipe Rolling Plant (ChelPipe) Group PJSC has finished shipment of large-diameter pipes (LDP) for the Turkmenistan-Afghanistan-Pakistan-India (TAPI) main gas pipeline, Trend reports referring to the company.
Steel pipes with external anti-corrosion coating are intended for the construction of the linear part of the Turkmen section of TAPI. ChelPipe became the only Russian company that passed all stages of qualification selection and offered the best delivery terms among 94 bidders, the report said.
In April, ChelPipe Group PJSC signed a contract for shipping more than 150,000 tons of LDP to Turkmenistan’s Turkmengas state concern.
For the implementation of the project in accordance with the requirements of international and Islamic banking, its financing was provided by three financial organizations.
Among them were Russia’s Sberbank, a state-owned Russian banking and financial services company and a partner of ChelPipe; the Islamic Development Bank (IDB) and the Turkmen State Bank for Foreign Economic Affairs.
These institutions established international cooperation and structured the deal confirming the obligation to pay for the pipes worth over $200 million, the report said.
Construction of the Turkmen section of TAPI, which is designed with an annual capacity of 33 billion cubic meters of gas, was launched Dec. 13, 2015. IDB issued a loan for Turkmenistan in 2016 to finance the construction of the TAPI gas pipeline. An agreement worth $700 million was signed with the Turkmen State Bank for Foreign Economic Affairs.
Turkmenistan supplies gas to China and Iran. The ChelPipe group at one time shipped large-diameter pipes for the construction of the third stage of the Central Asia-China gas pipeline.
ChelPipe Group comprises ferrous industry enterprises and companies including Chelyabinsk Pipe Rolling Plant, Pervouralsk New Pipe Plant and a warehouse facility selling the Group's tubular products in Russian regions.