Home Page
14:58:41 EDT Thu 30 Oct 2014
Enter Symbol
or Name
USA
CA



MITSUBISHI CORP SPON
Symbol U : MSBHY
Recent Sedar Documents

Mitsubishi Corporation and JALUX Join Forces with Myanmar's SPA Project Management Ltd. in Bid to Operate Mandalay International Airport

2013-08-12 11:14 ET - News Release

Yangon, Myanmar -- (JCN Newswire) --

A consortium consisting of JALUX Inc. (JALUX), Mitsubishi Corporation (MC), and SPA Project Management Ltd. (SPA), a company incorporated in Myanmar, has been granted a Rights of First Refusal contract from the Government of Myanmar for rehabilitation and improvement and a 30-year term for managing operations at Mandalay International Airport, located in the Mandalay Region of Myanmar.

Located roughly in the center of Myanmar, Mandalay Airport serves as a domestic aviation hub, with routes connecting 12 major cities across the country. Passenger traffic at the airport is currently seeing an annual growth of 20 percent, servicing 80,000 international and 500,000 domestic passengers in 2012. Further increases in passenger demand are expected given the acceleration of industrial activities and increases in tourism in Myanmar.

Combining the strengths of the private sector, based on the experiences of JALUX, the only Japanese company with experience operating airports overseas, and MC's know-how in the rehabilitation/improvement of airport facilities with the strengths of public sector that DCA's experience in the operation of airports in Myanmar brings to the table, this PPP (Public-Private Partnership) will enable Mandalay Airport to better accommodate the passenger increases projected for the future.

Drawing on the experience gained from this project, JALUX and MC aim to continue expanding their infrastructure-related business, ranging from the construction of airport facilities to the management of airport operations, particularly in developing countries where demand in the aviation market is expected grow.

Should pending negotiations with the Government of Myanmar result in a concession, the consortium will work together with Myanmar's Department of Civil Aviation (DCA), the current operators of the airport, to establish a new company. Management of the airport will subsequently fall under the purview of the newly established company.

About Mitsubishi Corporation

<BR /><BR />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&apos;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.

Contact:

Mitsubishi Corporation
Tel: +81-3-3210-2171  
Fax: +81-3-5252-7705


Copyright 2013 JCN Newswire. All rights reserved. www.japancorp.net

© 2014 Canjex Publishing Ltd. All rights reserved.