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According to preliminary calculations POLIMET project must have been implemented in two stages. The first stage consisted in investment of funds in assembling equipment and commissioning the first production line for manufacturing flexible corrosion-resistant polymer-metal pipes. The second stage presupposed investment in erection of equipment and assembling the second production line.

Close Joint-Stock Company "POLIMET" was registered by the Administration of Saratov region on April 9, 1996 by Decree # 182p. The company's registration number is 08080210.

Owners of the company were as follows:

    1. «Engineers Architects and Consulting Ltd». Ireland -36%;
    2. Open Joint-Stock Company "Azimut", Russia, Moscow - 36%;
    3. Ministry for Internal Affairs of Saratov region (Engels) - 20%;
    4. Limited Partnership "Dipol" - 8%.

The company's paid-in capital amounts to 65 mln. rubles.

The basic types of the company's activities are as follows:

   Manufacturing and selling industrial goods and consumer products;
   Construction, repairing and erection works in industry, agriculture and civil construction;
   Transport and expeditionary services including international carrier services;
   Intermediary and commercial activities, wholesale and retail trade.

Currently "POLIMET" focuses its activities on works related to production and distribution of flexible polymer-metal pipes (FPMP) for oil industry.

These pipes are designed to be used as pipelines for transporting highly aggressive liquids. Their working pressure is 4 MP. Period of exploitation is 20 years, which is 8-10 times higher than life period of metal pipes.

Such products have a reliable. Technology of their production is not complicated. Materials used for manufacturing pipes are not scarce. They are available in Russia. All above-mentioned information is sufficient for substantiating commercial worthiness of the project.

Engineers Architects and Consulting Limited Company and Open-Joint Stock Company "BB-Holding" concluded contract dated 12.07.95 for delivercy, erection and adjustment of the line for production of flexible corrosion-resistant polymer-metal pipes.

By the end of 1996 the first line had been completely assembled and put into operation. However in 1997 due to disagreement between the parties which brought about a delay in designing the second production line, Engineers Architects and Consulting Limited Company decided to withdraw from the project having considered its further development inadvisable from commissioning of the second production line.

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