French steel group Vallourec said on Sept. 29 that it intends to $75 million in China to build a plant to manufacture steel tubes to be used in nuclear power stations.
The plant, to be located in Nansha in Guangdong Province in southeastern China, is set to become operational in the second half of 2012 and will employ 200 people.
Vallourec announced earlier this month another initiative in China, a $100 million, 19.5% investment in the Tianda Oil Pipe group.
The Chinese market accounted for 10% Vallourec sales last year. The company operates eight production and services sites in China, employing 500 workers.
Copyright Agence France-Presse, 2010