Froch Enterprise Co., Ltd., a Taiwan-based stainless steel manufacturer, said its board of directors approved an investment of US$30 million to set up a subsidiary in Morocco for local production of stainless steel pipes to serve European customers.

Froch will build its own plant to produce stainless steel pipes for industry and construction. The initial monthly production capacity is scheduled at 2,000 tons, and the capacity utilization rate can reach around 1,500 tons.

The company said it chose Morocco as the location for the new plant to serve its regular European customers more conveniently with a shorter shipping time.