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During a ceremony held in Kuala Lumpur, Technip signed an agreement with Tanjung Langsat Port(1), for a 20 Ha land lease to set up a new flexible pipe manufacturing plant to be called Asiaflex Products. Located in Tanjung Langsat industrial complex, on the southern tip of Peninsular Malaysia in Johor State, this new plant will have direct access to a deep water quay-side.
Asiaflex Products will have a manufacturing capacity of 200 normalized km(2) per annum of flexible pipes. It will allow the Technip group to reach a total maximum production capacity of 1,060 normalized km per annum, including the current capacity of the two existing Technip plants:
The new plant is part of a €1 billion capex program to strengthen Technip's assets in the Subsea segment (vessel fleet, engineering centers and manufacturing plants) and reinforce Technip's worldwide leadership in the flexible pipe market.
Expected to be operational by 2010, Asiaflex Products' primary focus will be the emerging deep water Oil & Gas markets in the Asia-Pacific and Middle-East regions. The facility will have the capability of producing the complete range of Technip flexible pipes. The manufacturing site will be designed to allow future extension for umbilical production. The plant will provide employment for approximately 300 people.
Technip is a global player in Oil and Gas services and a long-standing leader in Oil & Gas engineering in the Asia-Pacific region with more than 3,200 employees, key operating centers across Asia and Oceania and regional headquarters in Kuala Lumpur, Malaysia. In the Asia-Pacific region, Technip has completed over 2,000 projects in the Onshore, Offshore and Subsea segments since 1982.
Bernard Di Tullio, Technip President & COO stated: "This new plant, benefiting from its strategic location and our expertise in flexible pipe manufacturing, will further consolidate our global leadership".
(1) Tanjung Langsat Port Sdn. Bhd., responsible for the development of the Tanjung Langsat harbor and industrial complex, is 100% owned by Johor State Economic Development Corporation.
(2) 8 inches normalized flexible pipe.
With a workforce of 22,000 people, Technip ranks among the top five corporations in the field of oil, gas and petrochemical engineering, construction and services. The Group is headquartered in Paris.
The Group's main operating centers and business units are located in France, Italy, Germany, the UK, Norway, Finland, the Netherlands, the USA, Brazil, Abu-Dhabi, China, India, Malaysia and Australia.
In support of its activities, the Group manufactures flexible pipes and umbilicals, and builds offshore platforms in its manufacturing plants and fabrication yards in France, Brazil, the UK, the USA, Finland and Angola, and has a fleet of specialized vessels for pipeline installation and subsea construction.
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Technip trades under the ISIN FR0000131708 on the Euronext Paris.