Downsizing deals - ArcelorMittal Temirtau in deal with workers

Reuters reported that ArcelorMittal Temirtau has reached a deal with its workers to avoid layoffs or shutdowns by introducing 3 month pay cuts for employees instead.

It said in a statement it has introduced limits on bonuses and other payments, reducing the total payroll by 14% following a

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TMK starts LSAW pipe supplies to the Central Karakum-Yylanly Pipeline

TMK, one of the world's leading producers of oil and gas pipes, announced that it began shipments of longitudinal welded large diameter pipes to Turkmengaz State Concern for the Central Karakum Yylanly compressor station pipeline.

The release said “More than 28,000 tonnes of 720mm

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First fully hydraulic aluminum hot rolling mill in Russia

The Russian aluminum processing company, the Kamensk Uralsky Metallurgical Works now has the first fully hydraulic hot rolling mill in Russia. Siemens VAI Metals Technologies supplied Top Hat hydraulic cylinders and an automatic gauge control system for the new mill. With the new equipment

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Mr Prokhorov to build seven star hotel in Turkey

RIA Novosti reported that metals magnate Mr Mikhail Prokhorov, Russia's richest man, has received permission to build a 'seven star' hotel near Izmir on Turkey's Aegean Sea coast.

The Milliyet daily said that construction work in Cheshme, on the outskirts of Izmir is expected to start

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Turkmenistan may have up to 250 billion tonnes of oil equivalent

RIA Novosti citing Mr Odek Odekov the head of a geological research institute at the Central Asian country's state-run corporation said Turkmenistan could have some 200 billion tonnes to 250 billion tonnes of oil equivalent.

Mr Odek Odekov said "Reserves have so far been estimated at

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