The Chinese company Taihe Shaanxi invests in the production of drilling rigs in Russia

At the first stage, the production of oil and gas pipes will be established, and later — the production of large equipment for oil and gas production.
Taihe Shaanxi Intelligent Drilling Company has announced plans to invest 100 million yuan (1.3 billion rubles or $14 million) in the construction of a drilling equipment manufacturing plant in Russia.
The company is planned to be located in the Tyumen region. Chairman of the company Wang Hong noted the importance of increasing the production of equipment in Russia for the needs of the oil and gas industry.