Canadoil Group, a producer of specialized pipes for oil and gas projects, said on June 17 it would invest more than $600 million to build a plant in eastern Thailand.
The group said the new facility, based in Rayong province, would produce high grade metal, alloy and steel plates used to make pipes for the energy industry, and would "contribute significantly" to the Thai economy.
Privately owned Canadoil, which was established in North Italy and now has a strong presence in Asia, said the new plant was expected to become operational in 2012.
It said it would be one of only a handful of facilities in the world able to produce the quality of metal plates required in demanding oil and gas piping projects, employing 1,000 workers once operations begin.
Copyright Agence France-Presse, 2010
