Mitsubishi Heavy Industries Ltd. said Thursday it will establish a new representative office in Hanoi on Saturday as part of efforts to respond to increasing business opportunities in Vietnam. The office will augment the representative office set up in the Vietnamese commercial hub of Ho Chi Minh City in 1994. The Hanoi office will help the company promote general machinery products and seek chances to land large projects related to enhancing social infrastructure, it said. … [Read more...] about Mitsubishi Heavy Industries to set up Hanoi outpost
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Japan's Mitsubishi Heavy Industries will win an order to build two nuclear reactors in Texas, becoming the first Japanese firm to export reactors on its own to the growing US market, a report said Wednesday. In a deal valued at an estimated 600 billion yen (5.17 billion dollars), US operator TXU has tapped Mitsubishi Heavy to expand its nuclear power plant operations in the suburbs of Dallas, the Nikkei business paper said. Mitsubishi Heavy will build two reactors for TXU, which plans to construct five reactors by 2020, the newspaper said, quoting unnamed sources. Confirmation was not immediately available. The world market for nuclear power plants is expected to expand rapidly amid higher crude oil prices and calls for a reduction in greenhouse gas emissions. At least 150 reactors are expected to be built in the next 25 years, especially in India and China, the Nikkei estimated. With an eye to the growing US market, Japanese giant Toshiba Corp. last year bought US nuclear … [Read more...] about Mitsubishi Heavy to Win US Nuclear Reactor Order: Report
Vietnam Shipbuilding Industry Group is in talks with Mitsubishi Heavy Industries Ltd. and other foreign companies as it seeks to sell stakes in units to help pare debts and restructure operations. State-owned Vinashin, as the shipbuilder is known, is talking to Mitsubishi Heavy about a diesel-engine making unit in the northern port city of Haiphong, Chairman Nguyen Ngoc Su said by phone on Tuesday. Officials from the two companies met last month during an industry exhibition in Hanoi, he said. “We’re willing to sell them a majority stake in the unit if they are interested,” Su said. “We are open, and welcome any foreign investors who want to buy stakes in our units, or invest in our uncompleted projects.” Vietnam’s biggest shipbuilder is restructuring operations after almost collapsing with debts of about VND86 trillion ($4 billion) as of June 2010. The Hanoi-based company’s failure to make payments on a dollar-denominated loan that year … [Read more...] about Vinashin says in talks with Mitsubishi Heavy on unit stake sale
MHPS is a joint venture company formed in February 2014, integrating the thermal power generation systems businesses of Mitsubishi Heavy Industries, Ltd. (MHI) and Hitachi, Ltd. Combining the strength of two major players in Japan, MHPS is one of the world-largest suppliers of thermal power plants and related services with the revenue of US$15 billion and 21,000 employees. MHPS’s products include gas-fired and coal-fired power plants and environmental systems. MHPS supplied the major equipment for Phu My 1 and O Mon 1-1 and 1-2 power station, which constitute vital and stable source of electricity in southern Vietnam area. At the meeting, the MHPS representative expressed the willingness to contribute to Vietnamese economic development through its excellent technologies and services, e.g. latest and proven gas turbine design. MHPS also offered their support to alleviate environmental concerns of existing coal-fired power plants with it … [Read more...] about Courtesy Call between Deputy Minister Hoang Quoc Vuong and President and CEO of Mitsubishi Hitachi Power Systems, Ltd.
Eighty-three enterprises from 23 countries and territories around the world exhibited their products and technology relating to the power, coal, mining and steel sectors at the 2005 Vietnam International Industry Exhibition which was opened in Hanoi on December 7. Notably, the event has lured the participation of such major industrial groups as Mitsubishi Heavy Industries Ltd, Siemens AG and Power Generation. The exhibition is a good opportunity for Vietnamese businesses to explore new technology from foreign partners and make valuable deals to serve key industrial sectors. The event is organized under the sponsorship of the Ministry of Industry (MoI) and State-owned Electricity of Vietnam (EVN). It closed on December 9. New Hanoi … [Read more...] about 83 Foreign Firms Join Int’l Industry Exhibition in Hanoi