English | 简体中文 | 繁體中文 | 한국어 | 日本語
Tuesday, 25 September 2012, 18:10 HKT/SGT
Share:
    

Source: Mitsubishi Corporation
Mitsubishi Corporation and Sembcorp Development Enter Strategic Alliance on Township Development in South East Asia

TOKYO, Sept 25, 2012 - (ACN Newswire) - Mitsubishi Corporation (MC) is pleased to announce that it has entered into a strategic alliance agreement with Sembcorp Development (SCD) in the field of urban development business in South East Asia.

South East Asia is expected to attract an increasing level of investment from foreign manufactures and other businesses as they look towards the establishment of the ASEAN Economic Community in 2015. MC and SCD plan to expand urban development business in this region, combining SCD's experience in urban and industrial park development with MC's functions in developing residential/logistics/retail properties as well as its global network spanning virtually every industry.

SCD owns, develops, markets and manages urban developments comprising industrial parks as well as business, commercial and residential space in Vietnam, China and Indonesia. It is a wholly-owned subsidiary of Sembcorp Industries, a leading energy, water and marine group, which is itself 48.84%-owned by Singapore's Temasek Holdings.

In 1996, MC joined SCD's flagship project - Vietnam Singapore Industrial Park (VSIP). VSIP has developed 5 industrial parks (with a total area of approximately 6,000ha) in Vietnam which have been utilized by 465 manufacturing and logistics companies including 104 Japanese companies.

Enjoying stable economic growth, cost competitiveness and a strategic manufacturing/logistics location due to its proximity to China, South East Asia is currently experiencing a wave of industrialization similar to that which it saw during the 1990s.

Although most foreign investments into this region tend to be made by manufacturing companies and focus on industrial parks, there is also an increasing need for integrated urban solutions, including residential and retail facilities, to support local employees and communities. VSIP is working to address this need, having incorporated this integrated urban solutions concept into all of its projects since its second project, "VSIP Binh Duong," which commenced in 2006.

MC plans to expand its urban development business in South East Asia with SCD, and by doing so facilitate global investment into this region while contributing to the sustainable growth of local society.

About Sembcorp Development Ltd

SCD (Singapore) is a leading Asian developer with over 20 years' experience undertaking planning, land preparation and infrastructure development to create large scale urban developments. It owns, develops, markets and manages urban developments comprising industrial parks as well as business, commercial and residential space in Vietnam, China and Indonesia. SCD is a wholly-owned subsidiary of Sembcorp Industries, a leading energy, water and marine group with operations across six continents worldwide. The Group has total assets of over S$11 billion (US$9 billion) and employs over 9,000 employees. Please visit www.sembcorp.com.

About Vietnam Singapore Industrial Park (VSIP)

In 1996 VSIP's first project, an industrial park consisting of 500 hectares of land, was established in Binh Duong province by Becamex IDC, a local state-owned company, and a consortium from Singapore led by Sembcorp Development Ltd. Mitsubishi Corporation was a member of this consortium and supported the project's promotional activities. Due to accelerated economic growth in Vietnam, from 2006, VSIP expanded rapidly with the establishment of further industrial parks in Binh Duong (2,045 hectares), in Bac Ninh province (700 hectares), in Hai Phong City (1,600 hectares), and most recently in central Quang Ngai province (1,120 hectares).

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


Topic: Business Tieup
Source: Mitsubishi Corporation

Sectors: Daily Finance, Real Estate & REIT
https://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 
Mitsubishi Corporation Links

http://www.mitsubishicorp.com

https://www.linkedin.com/company/mitsubishi-corporation/

Mitsubishi Corporation Related News
Tuesday, 29 November 2022, 19:12 JST
Tokyo Gas, Osaka Gas, Toho Gas and Mitsubishi Collaborate to Produce e-methane in the US and Transport It to Japan, Utilizing Cameron LNG in Louisiana
2022年11月29日 11時00分 JST
東京ガス・大阪ガス・東邦ガス・三菱商事4社、米国キャメロンLNG基地を活用した日本への合成メタン(e-methane)導入に関する 詳細検討の実施について発表
2022年11月14日 16時30分 JST
三菱商事:当社の連結子会社株式に対する公開買付けに係る応募契約締結に関するお知らせ
2022年11月8日 13時50分 JST
三菱商事、2022年度第2四半期決算を発表
2022年11月1日 14時00分 JST
三菱商事、人事異動を発表
More news >>
Copyright © 2022 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575