Japan's Saibu Gas to build LNG receiving terminal

TOKYO, March 30 (Reuters) - Japanese Saibu Gas (9536.T) said on Tuesday that it would build a large-scale liquefied natural gas (LNG) receiving terminal in Kitakyushu, western Japan, for around 70 billion yen ($757 million) to meet projected growth in demand, especially from the industrial sector.

The company will start construction of the terminal, which includes such facilities as two 180,000-kilolitres-class LNG tanks, a gasification facility, and a berth for receiving big overseas LNG vessels, in June 2010.

The terminal is scheduled to start operations in November 2014.

Kyushu Electric Power Co (9508.T) will take a 10 percent stake in a firm that will be in charge of the construction and operations of the terminal, while Saibu will take the rest. (Reporting by Osamu Tsukimori; Editing by Chris Gallagher)