News

Chiyoda Corporation (TSE: 6366; ISIN: JP3528600004), Japan's leading engineering and construction firm, and its subsidiary Chiyoda (Thailand) Limited ("CTL") in Bangkok have acquired a contract from Thai MMA Co., Ltd. (President: Takashi Ikegami) to construct an acrylic sheet plant (annual production capacity of 20,000 tons). Chiyoda will be in charge of engineering and procurement, and CTL will be independently in charge of construction. The construction site is located in Map Ta Phut, Rayong Province and work is scheduled to be completed in August 2009.

Thai MMA is a joint venture whose major shareholders are Mitsubishi Rayon Co., Ltd. and SCG Chemicals Co., Ltd., the petrochemicals arm of the Siam Cement Group. It is also one of the primary bases of the Mitsubishi Rayon Group's methyl methacrylate (MMA) monomer operations in Asia. Demand is expected to continue rising, mainly in Asia, for MMA monomer and polymer molding materials, sheets and other products for use in IT and automobile components including light guide plates for liquid crystal display (LCD) backlights and billboards. Thai MMA’s decision to award the contract to Chiyoda and its subsidiary is partly based on Chiyoda’s track record: In 2005, Chiyoda constructed an acrylic sheet plant in Jiangsu Province, China, for Mitsubishi Rayon’s wholly owned subsidiary Mitsubishi Rayon Polymer Nantong Co., Ltd.

In Southeast Asia there is a strong drive to invest in oil refineries and chemical plants to cope with the current demand for petroleum and petrochemical products in India, China and other Asian countries. In Singapore, Chiyoda acquired a contract for a long residue catalytic cracker unit revamp project in August 2007, and an Engineering, Procurement and Construction (EPC) contract for a large tank terminal in October 2007.

Aiming to be the "Reliability No.1" project company, Chiyoda will continue to provide optimum solutions in regions where many petroleum and petrochemical projects are expected in the future, such as the Middle East and Southeast Asia.

Chiyoda Corporation, headquartered in Yokohama, Japan, provides services in the field of engineering, procurement and construction (EPC) for gas processing, oil refineries and other hydrocarbon processing and industrial plant projects, particularly in Gas Value Chain areas, on a global basis including the Middle East, Russia, Africa and South East Asian regions. For 60 years, Chiyoda has constantly leveraged its extensive experience and a far-reaching global network to give it an unrivaled advantage.