It's reported that Russia-based TMK, a major global supplier of steel pipes for the oil and gas sectors announced it has acquired 55% stakes at Oman's Gulf International Pipe Industry L.L.C. (GIPI).
It's known CIPI, pipe company with annual production capacity of 200,000 tons mainly produces welded pipes and line pipes for the oil and energy sector. The firm's main customers are the major oil and gas companies operating in the Persian Gulf.
Meanwhile, the other shareholders of the company are Oman Investment Corporation, Gulf Investment Corporation and Posco P&S.
