Establishment of a Consortium for the Development of the Thilawa

Establishment of a Consortium for the Development of the Thilawa SEZ 
Tokyo, Oct 29, 2013 - (JCN Newswire) -  Mitsubishi Corporation, Marubeni
Corporation and Sumitomo Corporation are pleased to announce the establishment
of a new consortium to develop the Thilawa Special Economic Zone project in
Myanmar. Following a feasibility study undertaken over the past several months,
the consortium will be a product of collaboration between the three partners
and a public-private partnership comprising the Government of Myanmar and local
enterprises. The consortium will focus on developing the "Class A
Area", the section of the Thilawa Special Economic Zone designated for
initial development. 
Japan-Myanmar Consortium 
MMS Thilawa, an equal investment limited liability partnership established by
Mitsubishi Corporation, Marubeni Corporation and Sumitomo Corporation in April
2013, will contribute 49 percent of the capital for the project, while 51
percent will be provided by the Government of Myanmar and local enterprises to
form an entity, tentatively named Myanmar Japan Thilawa Development Ltd.
(MJTD). Located in Yangon, Myanmar, MJTD will acquire rights to 400 hectares of
property from the Government of Myanmar, and will proceed to develop a
high-quality industrial zone. Property development is expected to be undertaken
by Japan's Penta-Ocean Construction Co., Ltd. and a consortium of
construction firms from Myanmar. The Thilawa Special Economic Zone is scheduled
to commence in 2015. 
Feasibility Study 
The Thilawa Special Economic Zone occupies a wide area of 2,400 hectares of
land approximately 20 km southwest of the Myanmar capital, Yangon. This is a
prime location which boasts an abundant labor population and can utilize
existing nearby port facilities. The three companies started a joint
feasibility study and environmental impact assessment in the summer of 2012
regarding the investment in the 400-hectare Class A Area, the section of the
property slated for initial development. Upon approval from the Myanmar
Government, the project construction will be underway. 
The three companies believe the project will attract wide interest from
Japanese and other foreign companies seeking to invest in Myanmar, and
contribute to overall industrialization, increased employment, and economic
development in the country. Collaboration with the Japanese and Myanmar
governments will continue in order to realize this project. 
Company Outlines 
MMS Thilawa
Location:2-3-1 Marunouchi, Chiyoda-ku, Tokyo, Japan
Business Activities: Development and marketing of industrial complex in
Myanmar; establishment of local management company
Shareholder Composition: Mitsubishi Corporation, 33.3 percent; Sumitomo
Corporation, 33.3 percent; Marubeni Corporation, 33.3 percent 
MJ Thilawa Development Ltd
Location: Thilawa, Yangon, Myanmar
Business Activities: Development, marketing and management of Thilawa
industrial zone
Shareholder Composition: Government of Myanmar/Private Companies, 51 percent;
MMS Thilawa, 49 percent 
Mitsubishi Corporation
Headquarters: 2-3-1 Marunouchi, Chiyoda-ku, Tokyo, Japan
Business Activities: Mitsubishi Corporation has six Business Groups which
develop operations in the diverse fields of Industrial Finance, Logistics &
Development, Energy, Metals, Machinery, Chemicals and Living Essentials. In
addition to these Business Groups, Mitsubishi Corporation has also recently
established the Business Service Group and Global Environment &
Infrastructure Business Development Group.
Representative: Ken Kobayashi, President and CEO
Founded: April 1, 1950
No. of Employees:65,975 (consolidated, as of March 30, 2013) 
Marubeni Corporation
Headquarters: 1-4-2 Otemachi, Chiyoda-ku, Tokyo, Japan
Business Activities: Through its local and international network, Marubeni
Corporation provides products and services in a broad range of sectors,
encompassing import and export as well as transactions in the Japanese market,
related to food materials, food products, textiles, materials, pulp and paper,
chemicals, energy, metals, machinery, finance logistics, information
technology, infrastructure development and a range of other fields, including
resources development and investments on a global level.
Representative: Fumiya Kokubu, President and CEO, Director
Founded:December 1, 1949
No. of Employees:33,566 (consolidated, as of March 30, 2013) 
Sumitomo Corporation
Headquarters:1-8-11 Harumi, Chuo-ku, Tokyo, 104-8610 Japan
Business Activities:Sumitomo Corporation engages in multifaceted business
activities benefitting from our Integrated Corporate Strength, selling a
variety of domestic products and services, conducting import/ export and
trilateral business transactions, providing domestic and international business
investment, and participating in numerous other profitable activities
facilitated by our global network and the relationships of trust built with
corporate business partners and consumers in various industrial sectors around
the world.
Representative:Kuniharu Nakamura, President and CEO
Founded:December 24, 1919
No. of Employees:73,953 (consolidated, as of March 30, 2013) 
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 
Mitsubishi Corporation
Tel: +81-3-3210-2171
Fax: +81-3-5252-7705 
Copyright 2013 JCN Newswire. All rights reserved. 
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