Mitsubishi Heavy Industries forms joint venture in Thailand

Tokyo, October 13, 2009 – Mitsubishi Heavy Industries agreed with the Electricity Generating Authority of Thailand to provide repair services for gas turbine components that are exposed to high temperatures.

The new joint venture company, which will be established in November, will target the launch of a service factory in 2012.

MHI’s aim is to localize repair services in Thailand, where the gas turbine market is thought to have growth potential, to enhance its services, including shortening of delivery times, and to extend its service capability throughout the Asia region, where sharp increases in demand are expected.

EGAT, an MHI customer, has been looking for ways to reduce maintenance/repair costs and also to cultivate local engineers in this field in an aim to expand into other Asian markets.

The new venture, known as EGAT Diamond Services, will be capitalized at about 600 million bahts, with EGAT, MHI, Mitsubishi Corp. and Ratchaburi Electricity Generating Holding PCL owning shares.

The venture will build its repair plant in an industrial park near Bangkok and will initially offer repair services for combustor parts, and progressively expand its operations to turbine blades.

Gas turbines require inspection, maintenance and replacement of the parts that operate under very high temperatures at its annual periodical inspection.

MHI has delivered more than half of the large-size gas turbines owned by EGAT and more than 20 units to Thailand. As many gas turbine business opportunities are expected in the future in Thailand, the JV will be well positioned to pursue the collaborative merits of the two companies.

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