Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Tuesday, 25 September 2012, 18:10 HKT/SGT

Source: Mitsubishi Corporation
Mitsubishi Corporation and Sembcorp Development Enter Strategic Alliance on Township Development in South East Asia

TOKYO, Sept 25, 2012 - (ACN Newswire) - Mitsubishi Corporation (MC) is pleased to announce that it has entered into a strategic alliance agreement with Sembcorp Development (SCD) in the field of urban development business in South East Asia.

South East Asia is expected to attract an increasing level of investment from foreign manufactures and other businesses as they look towards the establishment of the ASEAN Economic Community in 2015. MC and SCD plan to expand urban development business in this region, combining SCD's experience in urban and industrial park development with MC's functions in developing residential/logistics/retail properties as well as its global network spanning virtually every industry.

SCD owns, develops, markets and manages urban developments comprising industrial parks as well as business, commercial and residential space in Vietnam, China and Indonesia. It is a wholly-owned subsidiary of Sembcorp Industries, a leading energy, water and marine group, which is itself 48.84%-owned by Singapore's Temasek Holdings.

In 1996, MC joined SCD's flagship project - Vietnam Singapore Industrial Park (VSIP). VSIP has developed 5 industrial parks (with a total area of approximately 6,000ha) in Vietnam which have been utilized by 465 manufacturing and logistics companies including 104 Japanese companies.

Enjoying stable economic growth, cost competitiveness and a strategic manufacturing/logistics location due to its proximity to China, South East Asia is currently experiencing a wave of industrialization similar to that which it saw during the 1990s.

Although most foreign investments into this region tend to be made by manufacturing companies and focus on industrial parks, there is also an increasing need for integrated urban solutions, including residential and retail facilities, to support local employees and communities. VSIP is working to address this need, having incorporated this integrated urban solutions concept into all of its projects since its second project, "VSIP Binh Duong," which commenced in 2006.

MC plans to expand its urban development business in South East Asia with SCD, and by doing so facilitate global investment into this region while contributing to the sustainable growth of local society.

About Sembcorp Development Ltd

SCD (Singapore) is a leading Asian developer with over 20 years' experience undertaking planning, land preparation and infrastructure development to create large scale urban developments. It owns, develops, markets and manages urban developments comprising industrial parks as well as business, commercial and residential space in Vietnam, China and Indonesia. SCD is a wholly-owned subsidiary of Sembcorp Industries, a leading energy, water and marine group with operations across six continents worldwide. The Group has total assets of over S$11 billion (US$9 billion) and employs over 9,000 employees. Please visit

About Vietnam Singapore Industrial Park (VSIP)

In 1996 VSIP's first project, an industrial park consisting of 500 hectares of land, was established in Binh Duong province by Becamex IDC, a local state-owned company, and a consortium from Singapore led by Sembcorp Development Ltd. Mitsubishi Corporation was a member of this consortium and supported the project's promotional activities. Due to accelerated economic growth in Vietnam, from 2006, VSIP expanded rapidly with the establishment of further industrial parks in Binh Duong (2,045 hectares), in Bac Ninh province (700 hectares), in Hai Phong City (1,600 hectares), and most recently in central Quang Ngai province (1,120 hectares).

Mitsubishi Corporation
Tel: +81-3-3210-2171
Fax: +81-3-5252-7705

Topic: Business Tieup
Sectors: Daily Finance, Real Estate
From the Asia Corporate News Network

Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Mitsubishi Corporation Links

Mitsubishi Corporation
Jan 19, 2021 09:25 HKT/SGT
Mitsubishi Corporation: Commercial Operations Commence at Methanol / Dimethyl Ether Plant in Trinidad and Tobago
Dec 24, 2020 16:01 HKT/SGT
Vietnam Pilot Project Utilizing TradeWaltz Platform Adopted Under Government's Supply-Chain Diversification Scheme
Dec 8, 2020 15:01 HKT/SGT
MC Signs Rolling Stock Contracts with Myanma Railways
Nov 24, 2020 13:15 HKT/SGT
Mitsubishi Corporation Signs Contract with Egyptian Government for Phase 1 of Cairo Metro Line 4
Oct 30, 2020 23:10 HKT/SGT
Hitachi Rail and Mitsubishi Corp to Deliver Metro de Panama Line 3 worth JPY 92.0 Billion
Oct 28, 2020 09:30 HKT/SGT
Trials of Jointly Developed Compact LNG Filling System to Commence in Hokkaido
Oct 27, 2020 11:25 HKT/SGT
Mitsubishi Corporation: Cross-Industry Investment by Seven Enterprises in New TradeWaltz Platform
Oct 1, 2020 09:09 HKT/SGT
MC Commences Feasibility Study on Biometric Authentication Platform in Turkey
Sept 23, 2020 15:00 HKT/SGT
Mitsubishi Corporation: Use of CO2 in Concrete / Partnership with Blue Planet Systems Corporation
Sept 15, 2020 08:41 HKT/SGT
Mitsubishi Corporation and Surbana Jurong Joint Venture to Form Partnership with SinarMas Land to Advance Smart, Sustainable Transit-Oriented Developments in Indonesia
More news >>
 News Alerts
Copyright © 2021 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6859 8575

Connect With us: