Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 5 July 2019, 13:00 HKT/SGT
Share:
    

Source: Mitsubishi Corporation
Mitsubishi Corporation Participates in New Ulaanbaatar International Airport Operation Project in Mongolia

TOKYO, July 5, 2019 - (JCN Newswire) - Mitsubishi Corporation (MC), Narita International Airport Corporation (NAA), Japan Airport Terminal Co., Ltd. (JATCO), and JALUX Inc. (JALUX) have established a joint venture with the Government of Mongolia: New Ulaanbaatar International Airport LLC (NUBIA). NUBIA has entered into a 15-year concession agreement with the National Development Agency of Mongolia concerning the operation of the New Ulaanbaatar International Airport (the New Airport), which is expected to open in the first half of 2020 upon completion of pre-operation work and relocation from the existing airport.


Passenger Terminal Building


Demand for air transport in Mongolia is rising, with Ulaanbaatar, its capital and thus most important political, economic and commercial hub, at the center of growth. In 2018, the number of passengers utilizing the existing airport reached 1.42 million, up 14% from the previous year. With continued investment in its abundant coal, mineral and livestock resources, demand for aviation services is expected to increase further in Mongolia and boost the importance of its airports.

While the New Airport is located approximately 50 km south of Ulaanbaatar city, its new geographical location enables aircraft to take off and land from both ends of the runway. This is a significant improvement from the existing airport, where, due to mountains to the south and east, only one end of the runway can be used and flight schedules are more often adversely impacted by weather conditions such as wind direction. The New Airport has been realized through an ODA (Official Development Assistance) yen loan provided by the Government of Japan to the Government of Mongolia.

In operating the New Airport, NUBIA will strive to improve the convenience of airport services by optimizing the combined knowledge and expertise of its shareholders: MC has extensive experience in the construction and management of airports and other infrastructure projects; NAA and JATCO operate Narita International Airport and the passenger terminal buildings at Haneda Airport respectively; while JALUX is engaged in airport retail businesses and also has experience managing overseas airports.

With safety always its top priority, NUBIA will endeavor to improve the convenience of airport services by taking advantage of the New Airport's capacity to offer more routes and flights, and also increase airport revenues through the development of attractive in-terminal commercial facilities. Already being heralded as a symbol of bilateral cooperation between Japan and Mongolia, the New Airport promises to become a familiar stop for citizens of both countries and travelers from all over the world, thereby contributing to the sustainable development of Mongolia's economy and society.


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/.

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


July 5, 2019 13:00 HKT/SGT
Source: Mitsubishi Corporation

Mitsubishi Corporation (TSE: 8058)

Topic: Press release summary
Sectors: Airlines
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Mitsubishi Corporation Links

http://www.mitsubishicorp.com

https://ph.linkedin.com/company/mitsubishi-corporation

Mitsubishi Corporation
Sept 4, 2019 13:50 HKT/SGT
Mitsubishi Corporation Invests in Finland's MaaS Global Ltd.
Aug 28, 2019 09:42 HKT/SGT
Mitsubishi Corporation to Invest in Next Generation Utility BBOXX Limited
Aug 9, 2019 16:05 HKT/SGT
Notice of Signing Basic Agreements for Airport Operation of the Seven Airports in Hokkaido
Aug 6, 2019 13:48 HKT/SGT
Mitsubishi Corporation: Asahi Tanker, Exeno Yamamizu, MOL and MC Agree on Strategic Partnership To Develop Zero-emission Fully Electric Vessels
Aug 2, 2019 13:12 HKT/SGT
Mitsubishi Shipbuilding Holds Christening and Launch Ceremony for Hankyu Ferry, the First of its Series, in Shimonoseki
July 26, 2019 11:03 HKT/SGT
MC and Sarutahiko Coffee Agree to Business Alliance and Acquisition of Third-Party Shares
July 8, 2019 11:36 HKT/SGT
Mitsubishi Motors and Mitsubishi Corporation Invest in GOJEK, Indonesia's Leading Mobility Service Company
June 12, 2019 14:01 HKT/SGT
Mitsubishi Corporation and Komeda Agree to Business Alliance and Acquisition of Third Party Shares
June 3, 2019 18:05 HKT/SGT
Mitsubishi Corporation to Acquire Additional Shares in TVS Automobile Solutions in India
May 14, 2019 19:01 HKT/SGT
Mitsubishi Corporation: Production Underway at Cameron LNG
More news >>
 News Alerts
Copyright © 2019 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: