Vallourec plans steel tube factory in China
French steel group Vallourec said on Wednesday it intended to invest 55 million euros (75 million dollars) 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-dollar 19.5 percent investment in the Tianda Oil Pipe group.
The Chinese market accounted for 10 percent of Vallourec sales last year. The company operates eight production and services sites in China, employing 500 workers.
© 2010 AFP