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Friday, 31 August 2018, 09:03 HKT/SGT
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Source: Mitsubishi Corporation / Hitachi, Ltd.
Hitachi and Mitsubishi Corporation Sign a Memorandum of Understanding with Metro de Panama, S.A. to Provide a Monorail System

TOKYO, Aug 31, 2018 - (JCN Newswire) - Hitachi, Ltd., Ansaldo STS SpA, a group company of Hitachi and Mitsubishi Corporation today announced that they have signed a memorandum of understanding with Metro de Panama, S.A. (MPSA) to provide a monorail system for Line 3 of Panama Metro.

The prime contractor for the project, including the civil works portions, will be selected by MPSA, and the subcontractor contract will be signed by the prime contractor and the companies.

Hitachi will provide 28 six-car trains. Signaling systems, telecommunication systems and power systems will be delivered by Ansaldo STS. Mitsubishi Corporation will be in charge of commercial affairs.

The Japan International Cooperation Agency will provide yen-loan to support the improvement of urban transportation systems and efforts to combat climate change, which will be allocated to civil works projects and the procurement of the monorail system.


About Mitsubishi Corporation

Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.

For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.

About Hitachi, Ltd.

Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges, combining its operational technology, information technology, and products/systems. The company's consolidated revenues for fiscal 2017 (ended March 31, 2018) totaled 9,368.6 billion yen ($88.4 billion). The Hitachi Group is an innovation partner for the IoT era, and it has approximately 307,000 employees worldwide. Through collaborative creation with customers, Hitachi is deploying Social Innovation Business using digital technologies in a broad range of sectors, including Power/Energy, Industry/Distribution/Water, Urban Development, and Finance/Social Infrastructure/Healthcare. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.

Contact:
Mitsubishi Corporation
Telephone: +81 3 3210 2171
Facsimile: +81 3 5252 7705 

Hitachi Ltd
Corporate Communications
Tel: +81-3-3258-1111


Aug 31, 2018 09:03 HKT/SGT
Source: Mitsubishi Corporation / Hitachi, Ltd.

Mitsubishi Corporation (TSE: 8058)
Hitachi, Ltd. (TSE: 6501)

Topic: Press release summary
Sectors: Transportation/Logistics, Engineering
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