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MHI, NYK Line and Mitsui & Co. to participate in feasibility study to modernize shipbuilding unit of OPK, Russia

Apr. 27, 2009


Mitsubishi Heavy Industries, Ltd.
Nippon Yusen Kabushiki Kaisha
Mitsui & Co., Ltd.


Main Contents

Tokyo, April 27, 2009 - Three Japanese companies - Mitsubishi Heavy Industries, Ltd. (MHI), Nippon Yusen Kabushiki Kaisha (NYK Line) and Mitsui & Co., Ltd. - have signed an agreement with United Industrial Corporation (OPK), one of Russia's largest diversified corporations, to implement a feasibility study on constructing large-size liquid natural gas (LNG) carriers at the shipyards of an OPK affiliate.

Under the feasibility study, the three Japanese companies will consider modernization of the shipbuilding facilities at the OPK affiliate to enable construction of large-size LNG carriers. The three partners also look to cooperate with the shipyards, once modernization is completed, in participating in businesses related to future Russian LNG projects.

From the perspectives of shipbuilding as well as ship ownership and operation, the three Japanese firms view natural resources and energy as one of Russia's most important sectors destined for expanded development. Given that resource- and energy-related transportation, including LNG projects, is expected to expand in Russia in the coming years, the three companies seek to leverage this opportunity to support the modernization of shipyards in Russia toward their vigorous participation in that country's resource- and energy-related sector.

Notice:
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.

Information

For inquiries on this matter, please contact

Mitsubishi Heavy Industries, Ltd.
Hideo Ikuno (h.ikuno@daiya-pr.co.jp)
Telephone: +81-3-6716-5277
Facsimile: +81-3-6716-5929
Daiya PR (in charge of public relations for Mitsubishi Heavy Industries, Ltd.)
Nippon Yusen Kabushiki Kaisha (NYK Line)
Corporate Communication Group
No.1 Public Relations Team
Atsuto Kato
Telephone: +81-3-3284-5190
Facsimile: +81-3-3284-6382
Mitsui & Co., Ltd.
Corporate Communications Division
Takatsugu Oki
Telephone: +81-3-3285-7562
Facsimile: +81-3-3285-9819