Limited Liability Partnership Set Up to Study Feasibility of Development at Thilawa Industrial Complex in Myanmar

May. 01. 2013
Marubeni Corporation
Mitsubishi Corporation
Sumitomo Corporation

Marubeni Corporation, Mitsubishi Corporation and Sumitomo Corporation have set up a limited liability partnership to carry out a feasibility study and an environmental impact assessment for the initial sector to be developed at the Thilawa Special Economic Zone in Myanmar. The three-company venture, registered on April 18 as MMST, has a paid-in capital of 294 million yen (equal sums contributed by each partner) and is headquartered in Tokyo’s Chiyoda district.

The area designated the Thilawa Special Economic Zone by the Myanmar government covers some 2,400 hectares of land and is located approximately 20 km south of Yangon. As part of plans to develop the area, the three companies started a joint feasibility study in the summer of 2012 to look into investing in the initial 420-hectare section of the property (Class A Area) slated for development. The partners therefore set up the limited liability partnership to serve as the business entity responsible for completing the feasibility study and conducting an environmental impact assessment - critical to the execution of proper feasibility evaluation. The environmental impact assessment is slated for completion during the autumn of this year.

Once developed, the industrial complex will serve as an entry point for Japanese and other foreign companies seeking to invest in Myanmar, thereby contributing to the country’s industrialization and economic development. Through the limited liability partnership, the three companies will keep a keen eye on developments in Myanmar and will base their investment decision on the likely impact of the complex on the local environment and the Myanmar government’s approach to the relocation of citizens currently occupying the property.

< Reference Information >

A. Location of the Thilawa Special Economic Zone

Location of the Thilawa Special Economic Zone

B. Company Outlines

1. Marubeni Corporation
(1) Headquarters : 1-4-2 Otemachi, Chiyoda-ku, Tokyo, 100-8088 Japan
(2) Business Activities : Through its local and international network, Marubeni
                                         Corporation provides products and services in a broad 
                                         range of sectors, encompassing import and export as well 
                                         as transactions in the Japanese market, related to food 
                                         materials, food products, textiles, materials, pulp and 
                                         paper, chemicals, energy, metals, machinery, finance 
                                         logistics, information technology, infrastructure 
                                         development and a range of other fields, including 
                                         resources development and investments on a global level.
(3) Representative : Fumiya Kokubu, President and CEO, Director
(4) Founded  : December 1, 1949
(5) No. of Employees : 32,445 (consolidated, as of September 30, 2012)

2. Mitsubishi Corporation
(1) Headquarters : 2-3-1 Marunouchi, Chiyoda-ku, Tokyo, 100-8086 Japan
(2) Business Activities : Mitsubishi Corporation has six Business Groups which 
                                          develop operations in the diverse fields of Industrial 
                                          Finance, Logistics & Development, Energy, Metals, 
                                          Machinery, Chemicals and Living Essentials. In addition to 
                                          these Business Groups, Mitsubishi Corporation has also 
                                          recently established the Business Service Group and 
                                          Global Environment & Infrastructure Business 
                                          Development Group.
(3) Representative : Ken Kobayashi, President and CEO
(4) Founded  : April 1, 1950
(5) No. of Employees : 65,289 (consolidated, as of September 30, 2012)

3. Sumitomo Corporation
(1) Headquarters : 1-8-11 Harumi, Chuo-ku, Tokyo, 104-8610 Japan
(2) Business Activities : Engage in multifaceted business activities benefitting from
                                          our Integrated Corporate Strength, selling a variety of 
                                          domestic products and services, conducting import/ export 
                                          and trilateral business transactions, providing domestic 
                                          and international business investment, and participating in 
                                          numerous other profitable activities facilitated by our 
                                          global network and the relationships of trust built with 
                                          corporate business partners and consumers in various 
                                          industrial sectors around the world.
(3) Representative : Kuniharu Nakamura, President and CEO
(4) Founded  : December 24, 1919
(5) No. of Employees : 71,087 (consolidated, as of September 30, 2012)