MHI Establishing Supercritical Pressure Boiler Manufacturing JV in India with Larsen & Toubro.Tokyo, Japan, Apr 17, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Mitsubishi Heavy Industries Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :7011, 'MHI') has signed an agreement with Larsen & Toubro Limited (L&T), a major engineering and construction firm in India, to jointly establish a company to manufacture and sell supercritical Adj. 1. supercritical - (especially of fissionable material) able to sustain a chain reaction in such a manner that the rate of reaction increases critical - at or of a point at which a property or phenomenon suffers an abrupt change especially having enough mass pressure boilers, which are used in coal-fired power generation plants. The move is aimed at responding to a rapidly growing electricity demand, in tandem Adv. 1. in tandem - one behind the other; "ride tandem on a bicycle built for two"; "riding horses down the path in tandem" tandem with India's robust economic growth. The JV, named L&T MHI MHI Manufactured Housing Institute MHI Montreal Heart Institute (Montreal, Quebec, Canada) MHI Median Household Income MHI Main Hawaiian Islands MHI Material Handling Institute Boilers Private Limited, will be established this month and is slated to commence manufacturing in the second half of fiscal year 2008, ending March 31, 2009. The JV will have its engineering center in New Delhi New Delhi (dĕl`ē), city (1991 pop. 294,149), capital of India and of Delhi state, N central India, on the right bank of the Yamuna River. , India's national capital. The site for the factory will be decided shortly. The new company will handle the full spectrum of activities relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc supercritical pressure boilers, from manufacture and sales to installation and after-sale service. Sales targets are set at USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 435 million after three years and USD 690 million after five years. The JV Company will manufacture under license from MHI for supercritical pressure boiler technology with generating capacities ranging between 500 - 1,000 megawatts (MW). The JV will be capitalized at Rupees 3 billion (approximately USD 68 million), with MHI owning 49% and L&T 51%. Initially, the JV will start with 50 employees, to be expanded to about 1,250 once production achieves momentum. L&T, headquartered in Mumbai on India's west coast, is a high technology-driven engineering and construction organization and one of the largest companies in India's private sector. It's diverse offerings scope include execution of turnkey projects and construction contracts in the core and infrastructure sectors, high end fabrication fabrication (fab´rikā´sh  n),n the construction or making of a restoration. and manufacturing equipments including pressure vessels and columns for chemical plants / refineries and heat recovery steam generators, electrical & electronic products and systems, heavy machinery & industrial products and information technology. The company reported annual revenue of approximately USD 3.2 billion (fiscal year 2006) and has a workforce of about 24,000 employees. L&T plans to enter the large-scale thermal power generation system business in a quest for Verb 1. quest for - go in search of or hunt for; "pursue a hobby" quest after, go after, pursue look for, search, seek - try to locate or discover, or try to establish the existence of; "The police are searching for clues"; "They are searching for the overall business expansion. MHI signed an agreement with L&T, last October for licensing its supercritical pressure boiler technology. The establishment of the JV represents a favorable meshing of the aspirations of both MHI and L&T. MHI has been seeking a foothold in power generation operations within India's rapidly growing market while L&T has been looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a partner possessing advanced technologies. India's economy expanded at an average 6% per year during the 1990s. From 2005, the growth has accelerated to 9%, and going forward the country aims for 10%. Along with economic development, India's electricity supply/demand gap has become increasingly serious. To cope with the energy supply issue, India plans to boost power supply capacity by 140,000 MW over the next 10 years by setting up large-scale coal-fired power plants. In tandem with this move, a number of supercritical pressure coal-fired power generation plants are planned. Supercritical pressure coal-fired power generation uses higher steam temperatures and pressures than sub-critical pressure power generation, and is more fuel-efficient and environment friendly. By reducing coal consumption relative to power output, carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. (CO2) emissions can be reduced roughly by 2.5%. However, supercritical type generation requires more sophisticated technology in equipment design to withstand the high temperature and pressure levels, and machining of high-strength component materials is a complex task. MHI has vast experience with these systems, having already delivered approximately 70 units in Japan and abroad. Supercritical pressure power plants are engineered to operate at steam pressures above the critical point of water: 22.12MPa and 374.15 C (705.5 F/647.3K). About Mitsubishi Heavy Industries, Ltd. Mitsubishi Heavy Industries, Ltd. (TSE: 7011, 'MHI'), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of 2,792 billion yen in fiscal 2005 (year ended March 31, 2006). MHI's diverse lineup of products and services encompasses shipbuilding, power plants, chemical plants, environmental equipment, steel structures, industrial and general machinery, aircraft, space rocketry rock·et·ry n. The science and technology of rocket design, construction, and flight. rocketry Noun the science and technology of the design and operation of rockets and air-conditioning systems. For more information, please visit the MHI website at http://www.mhi.co.jp Source: Mitsubishi Heavy Industries, Ltd. Contact: Hideo Ikuno Email: h.ikuno@daiya-pr.co.jp Tel: +813-6716-5277 Fax: +813-6716-5929 Daiya PR (for Mitsubishi Heavy Industries, Ltd.) Copyright [c] 2007 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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