Bangkok--18 Jun--Hill & Knowlton
Global manufacturer of specialized metal pipes serving the energy industry selects Thailand to be regional hub for production of metal and steel plates
Project to contribute significantly to Thai economy creating 5,000 jobs during construction phase and 1,000 direct employees once operational
Canadoil Group, a specialist producer of specialized pipes for oil and gas projects, has announced an investment of 20 billion Baht (over US$ 600 million) in a new facility in Rayong province to produce high grade metal, alloy and steel plates for the production of pipes used in the oil and gas industry.
The new plate mill, scheduled to be fully operational within 2012, 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 oil and gas piping projects.
Giacomo Sozzi, Chief Executive Officer, Canadoil Group commented, “Today’s announcement marks an important new era in our commitment to Thailand as our operational headquarters. Since we first entered the market 10 years ago, we have employed a deliberate strategy to make Thailand our global base thanks to its strategic geographic location and the reliability. The diligence of our Thai employees, whom we have found to be highly skilled and capable of delivering the highest quality products demanded by our customers, has propelled our global success story.”
The development of this new heavy plate making facility also represents a move up-stream in the piping production process for the company which has, until now, focused only on the final stage of the metals forming production process for industrial oil and gas piping.
Canadoil Group, a privately held group of companies with its roots in Northern Italy, was founded over 40 years ago and has grown to become a leading supplier of customized oil and gas piping solutions with operations in North America, South America, Europe and Japan, supplying the world’s most well known gas and oil exploration operators.
The company is unique for its ability to produce a broad range of piping solutions suited to some of the toughest environments known on earth, including deep sea beds where there are extreme temperatures and pressures which the piping equipment needs to withstand.
The new plant will have the potential to generate up to 1,000 direct employees This will also create an additional 5,000 jobs during the construction phase. Furthermore, Thai engineers who will be working at the plant will be provided with extensive training programs by Canadoil Group in Europe and Japan.
Giacomo Sozzi added, “In addition to the financial investment we are making in Thailand, which will help to turn Thailand into a regional hub for specialized metal plates, we believe that the expertise and know-how which we are introducing through the training phase, will also significantly contribute to furthering the development of metallurgy engineering in Thailand.”
The plant, which will be co-located alongside Canadoil Group’s existing pipe factory in Rayong province, is being built in accordance with the strictest global environmental standards and will exceed all current Thai environmental regulations.
With increasingly strong demand for its products, the products to be made in the plant will supply both the co-located Canadoil pipe plant as well as customers in the Middle East, a key market for Canadoil.
For media enquiries:
Rachit Puttipong
Senior Associate
Hill & Knowlton Thailand
Tel: +66 (0)2627 3501 Ext 204
Email:
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