By MARI IWATA
TOKYO -- Mitsubishi Heavy Industries and unlisted Imabari
Shipbuilding will set up a joint venture that would produce
liquefied natural gas carriers to cash in on the rising demand
for such ships, the two companies confirmed Tuesday.
Mitsubishi Heavy (MHI) is one of Japan's pioneer
LNG ship builders, while Imabari is the country's most
The total LNG carrier building capacity will be as big as South
Korean rivals, the two companies said in the statement.
The joint venture, MI LNG Co., will start operations on
April 1. MHI will own 51% of it and Imabari the rest.
Dow Jones Newswires