Shengyi Technology, a China-based manufacturer and supplier of electronic circuit base materials, plans to invest $196m (1.41bn yuan) to establish a new plant in Chachoengsao, a province in south-central Thailand. The new plant will enable the company to meet international clients' demand for the components used in printed circuit boards.

Shengyi Technology is headquartered in Dongguan, China, and was founded in 1985. It has wholly owned subsidiaries and holding companies in Xianyang, Suzhou, Changshu, Nantong and Jiujiang within the Chinese mainland, as well as in Taiwan and Hong Kong. The company employees nearly 10,000 people worldwide.

The province of Chachoengsao has a population of around 750,000. Its economy had been traditionally based around agriculture but it has more recently established a reputation as a centre for recycling potentially hazardous electronic waste. China has been responsible for a number of investments into Thailand in recent months, including an electric vehicle production facility from Changan and Wuxi Baotong Technology's $90m conveyor belt plant.