By MARI IWATA
TOKYO -- Mitsubishi Heavy Industries and unlisted Imabari
Shipbuilding will set up a joint venture that would produce
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
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