The modernization plan involves installation of new-generation machines and site optimization to fit 12m diameter reels, on which flexible pipes can be spooled.

The investment, which will also be used to develop a new area for testing of the sophisticated flexible pipes, forms part of Technip’s technological innovation and differentiation strategy.

Technip chairman and CEO Thierry Pilenko said: "Established for over 40 years in Normandy, Flexi France is a strategic asset for Technip. Our products have a high technological content based on decades of accumulated R&D and product know-how which we will continue to enrich further.

"This investment reflects our confidence and determination to continue to make our four flexible pipe plants leading actors throughout the world."