Welcome!

News Feed Item

Mitsubishi Corporation Constructs Coal Fired Power Plant in Mindanao, Philippines

Tokyo, Jan 31, 2014 - (JCN Newswire) - Mitsubishi Corporation (MC), together with Toshiba Plant Systems & Services Corporation (TPSC), has concluded a contract with MINERGY Coal Corporation (MCC)(1) to build a thermal power plant in the Philippines. The plant, located in Balingasag in Northern Mindanao, will be composed of two units of 55MW each. The project is being undertaken on a Full Turn-Key (FTK)(2) basis with completion expected by the end of March 2017. In addition to these two units, another unit may be ordered within this fiscal year as an option. The total contract price including the option would be around USD 300 Million.

Electricity demand in the Philippines, especially in Mindanao, is expected to see remarkable increase due to rising population and stable economic growth. New infrastructure, including the development of new power plants, is urgently needed in order to fulfill the growing demand for electricity. This project, therefore, is expected to serve as a model for infrastructural development in Mindanao.

Under "New Strategic Direction", the company has recently released corporate strategy MC is seeking to accelerate global business development by leveraging the shift towards Asian markets, which are gaining greater international presence both as resource and as consumer markets. MC therefore intends to continue pursuing power generation related business opportunities in Asia in the future.

Notes:

(1) MCC is a wholly owned subsidiary of Mindanao Energy Systems, Inc., a power generation company established by Cagayan Electric Power & Light Company, Inc., whose franchise area covers electricity distribution in the City of Cagayan de Oro and the municipalities of Tagoloan, Villanueva and Jasaan, all located in the Province of Misamis Oriental in the Northern Mindanao region of the Philippines.
(2) Under the Full Turn-Key contract, MC, together with TPSC, will execute the project in its entirety, including engineering, civil work, procurement, erection and testing.

Reference Information

1. Cagayan Electric Power & Light Company, Inc.
(1) Head Office: 33 Don Toribio Chaves Street, Cagayan de Oro City 9000, Philippines
(2) Year Established: 1952
(3) Main Activities: Electricity Distribution
(4) Representative: Consuelo G. Tion, President

2. MINERGY Coal Corporation
(1) Head Office: Brgy. Mandangoa, Balingasag, Misamis Oriental, Philippines
(2) Year Established: 1992
(3) Main Activities: Operation and Maintenance of Power Plants
(4) Representative: Edgardo A. Bautista, President

3. Mitsubishi Corporation
(1) Head Office: 3-1, Marunouchi 2-Chome, Chiyoda-ku, Tokyo, 100-8086, Japan
(2) Year Established: 1950
(3) Capital: JPY 204 billion
(4) Main business activities: Mitsubishi Corporation (MC) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.
(5) Sales: JPY 20,126 billion (Consolidated basis, FY2013)
(6) No. of Employees: 65,975 (Consolidated basis, as of March 31, 2013)
(7) Representative: Ken Kobayashi, President and Chief Executive Officer

4. Toshiba Plant Systems & Services Corporation
(1) Head Office: 36-5 Tsurumichuo 4-Chome, Tsurumi-ku, Yokohama, 230-8691, Japan
(2) Year Established: 1938
(3) Capital: JPY 11.8 billion
(4) Main business activities: Toshiba Plant Systems & Services is a comprehensive engineering constructor that globally carries out integrated operations ranging from planning and engineering to procurement, construction and field services. Toshiba Plant Systems & Services provides a broad range of products and services. These include infrastructure and environmental facilities for commercial and private power generation facilities; renewable power generation and substation facilities for hydraulic, solar, geothermal and other forms of energy; various types of industrial plants and installations; water supply and sewage facilities; communications facilities; airports; roads; and railways.
(5) Sales: JPY 172.8 billion (Consolidated basis, FY2013)
(6) No. of Employees: 4,024 (Consolidated basis, as of March 31, 2013)
(7) Representative: Kenji Sato, President and Chief Executive Officer


About Mitsubishi Corporation

Mitsubishi Corporation (MC; TSE: 8058) is a global integrated business enterprise that develops and operates businesses across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. MC's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods. With over 200 bases of operations in approximately 80 countries worldwide and a network of over 500 group companies, MC employs a multinational workforce of nearly 60,000 people. For more information, please visit www.mitsubishicorp.com.



Source: Mitsubishi Corporation

Contact:
Mitsubishi Corporation
Telephone:+81 3 3210 2171 
Facsimile:+81 3 5252 7705


Copyright 2014 JCN Newswire. All rights reserved. www.japancorp.net

More Stories By JCN Newswire

Copyright 2008 JCN Newswire. All rights reserved. Republication or redistribution of JCN Newswire content is expressly prohibited without the prior written consent of JCN Newswire. JCN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
SYS-CON Events announced today that Isomorphic Software will exhibit at SYS-CON's [email protected] at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, high-productivity enterprise web applications for any device. SmartClient couples the industry’s broadest, deepest UI component set with a java server framework to deliver an end-...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.