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MHI, NYK Line and Mitsui & Co. to Participate in Feasibility Study
to Modernize Shipbuilding Unit of OPK, Russia

April 27, 2009
Mitsubishi Heavy Industries, Ltd.
Nippon Yusen Kabushiki Kaisha
Mitsui & Co., Ltd.

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.
 
PRESS CONTACT:
Mitsubishi Heavy Industries, Ltd.
Hideo Ikuno ( h.ikuno@daiya-pr.co.jp )
Tel: +81-3-6716-5277, Fax: +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                   
Tel: +81-3-3284-5190, Fax: +81-3-3284-6382
 
Mitsui & Co., Ltd.
Corporate Communications Division
Takatsugu Oki
Tel: +81-3-3285-7562, Fax: +81-3-3285-9819
 
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