RIO DE JANEIRO -- Technip's engineering group said it will open a huge flexible pipe plant near Rio in December to meet demand ahead of exploitation of Brazil's huge offshore oil reserves.
The plant is located at the Acu Superport, one of the world's biggest port complexes.
Nelson Porchet, human resources chief at Technip's Brazilian branch, said the factory would be inaugurated in the second half of December and would aim to produce 120 km of flexible pipes in the first year.
The plant, Technip's second in Brazil, will be built with an investment of $272 million and aims to respond to increased demand for developing the huge pre-salt oil and gas reserves discovered in 2007 off southeastern Brazil.
Technip already has another flexible pipe factory in Vitoria, in Espirito Santo state, where it has been operating for 26 years.
Dow Jones Newswires