At least one company is seeing better days ahead for the oil and gas industry. OCT Pipe announced it will build a one million square foot pipe mill in Norfolk, Nebraska.
CEO Charley Havens, of the Rockwall, Texas based company, said the $125 million facility will break ground soon and be operational by mid-2017.
OCT Pipe plans to source 350,000 tons of steel annually from the Nucor Steel Nebraska bar mill in Norfolk to produce drilling and production pipe for U.S. oil gas and production companies. An international division will market products to Africa and Asia.
OCT will be applying for tax incentives available through the Nebraska Advantage Act. The facility is expected to create 180 jobs.
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