Itz AO (Russia)

Izhorskii Trubnyi Zavod AO, located in Kolpino, is a company that specializes in the production of large-diameter pipes for the oil and gas industry. The company's production process involves the delivery of pipe blanks from the 5000 wide-strip mill, which is located on the same site as the Izhorskii Trubnyi Zavod. The reconstruction of the 5000 mill allows the company to produce high-strength large-diameter pipes. The construction of the Izhorskii Trubnyi Zavod began in 2004, and contracts were signed with German and American companies for the manufacturing and installation of equipment. The project was financed through internal and external sources, including a loan from the European Bank for Reconstruction and Development. The total investment amounted to $300 million for the Izhorskii Trubnyi Zavod and $300 million for the modernization of the strip mill. The company's opening ceremony was attended by the President of Russia, Vladimir Putin, who emphasized the importance of the new plant for the country's energy system. The Chairman of the Board of Directors of Severstal, Alexey Mordashov, also highlighted the significance of the new plant for the implementation of the country's energy strategy.