Mitsubishi Corporation Launches Diesel Business in Australia
Commences diesel supply, sales and distribution with a new diesel import
terminal at Port Bonython in South Australia
Tokyo, July 22, 2014 - (JCN Newswire) - Mitsubishi Corporation (Mitsubishi) is
pleased to announce it will establish a diesel import terminal at Port Bonython
in South Australia. The terminal will be the foundation for Mitsubishi to
launch a diesel fuel import, sales and distribution business in Australia which
it expects to show robust growth on the back of increasing demand in energy,
resource, transport and industrial sectors.
In January 2013, Petro Diamond Australia Pty Ltd, Mitsubishi's wholly
owned subsidiary established in January 2012 as an Australian petroleum
business entity, acquired Port Bonython Fuels Pty Ltd (PBF). PBF subsequently
invited Coogee Chemicals Pty Ltd, which has a wealth of knowledge and proven
success in the business in Australia, to participate as a shareholder and
operating partner of the new PBF terminal. Through its involvement in the fuel
supply, sales and distribution business, Mitsubishi will strengthen its
petroleum trading functions and create greater synergies, while further
expanding value chains throughout the business.
With a proven track record of long-term strategic investments in Australia,
the company's largest investment destination, Mitsubishi remains committed
to Australia. PBF will therefore leverage Mitsubishi's vast network and
its expertise in the fuel procurement to provide customers with a competitive
and reliable supply of the highest quality diesel products.
As a key piece of future energy supply infrastructure, the PBF terminal has
been developed in close collaboration with and keenly supported by the South
Australian Government. It's establishment in close proximity to the main
sources of demand in northeastern South Australia will provide improved
capacity for responding to the customer needs as well as the increased supply
options in the domestic diesel market and overall enhance energy security in
Australia, playing a role in creating significant employment for the local
community in South Australia, especially during the construction phase.
The final design and construction phase of the terminal shall commence this
quarter, with the commencement of commercial operation targeted around the 2nd
quarter of 2016.
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.
Telephone:+81 3 3210 2171
Facsimile:+81 3 5252 7705
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