Bangkok--22 Nov--Siam PR Consultant
Today’s ground breaking Ceremony reinforces the global manufacturer’s commitment in leading Thailand towards becoming a regional hub for specialized steel and metal plates.
Canadoil Group, a specialized producer of pipes for the energy industry conducts the ground breaking ceremony to mark the beginning of construction of its new facility valued at 20 billion Baht (over US$ 600 million). The investment in the new facility is an endorsement of confidence on the part of investors and business partners in Thailand’s economy competitiveness, and its people, whom will enjoy the benefits.
Mr. Giacomo Sozzi, Chief Executive Officer of Canadoil Group commented that “To strengthen our business model by vertically integrating into the production of our main raw material, heavy plates, Canadoil is building a heavy plate hot-rolling mill; Canadoil Plate Ltd. The plant is being built in accordance with the strictest global environmental standards and will exceed all current Thai environmental regulations.
This state-of-the-art mill is designed by market-leader Siemens VAI who is also supplying most of its key components. The facility is located alongside the group’s existing pipe and fittings factories and is scheduled to be fully operational within 2013. The facility will be dedicated to project-specific production of high-grade steel and metal plates in order to meet our clients’ most stringent requirements.”
This new investment will contribute to the Thai economy upwards of 14.5 billion Baht during the construction period. The construction of the project will stimulate the economy and will create around 5,000 construction related jobs. The plant will also create around 1,000 permanent jobs once operational and generate income for Thailand and local businesses of approximately 3 billion Baht per year. Furthermore, Thai engineers who will be working at the plant will be provided with extensive training programs in Europe and Japan.
The new plate mill will be the most technologically advanced plant of its kind in Thailand and one of only a handful of plants around the world capable of producing the highest quality and flattest metal plates necessary for demanding energy industry projects.
Mr. Giacomo Sozzi added, “The investment will help to turn Thailand into a regional hub for specialized teel and metal plates. The expertise and know-how introduced through the training phase will significantly contribute to furthering the development of metallurgy engineering in Thailand.”