Chiyoda and CTCI Sign a Collaboration Agreement to Develop Non Hydrocarbon Projects

Wed Aug 17, 2011 12:14am EDT

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Chiyoda and CTCI Sign a Collaboration Agreement to Develop Non Hydrocarbon Projects

Chiyoda Corporation ("Chiyoda") (TOKYO:6366)(ISIN:JP3528600004), Japan's leading engineering and construction firm, today announces that Chiyoda has entered into a collaboration agreement with a Taiwanese company, CTCI Corporation ("CTCI") (Head Office: Taipei) to develop the collaboration in the field of Non Hydrocarbon projects.

According to the agreement, Chiyoda and CTCI will develop and explore the business opportunities worldwide in the field of Non Hydrocarbon projects, such as infrastructure, new energy resources, environmental and industrial projects, by sharing the expertise and the resources of two companies. Chiyoda and CTCI have a long history of collaboration for decades all over the world mainly in the field of hydrocarbon projects. It is beneficial to both Chiyoda and CTCI to expand and diversify their activities in the field of Non Hydrocarbon projects as well.

In order to enhance and facilitate such collaboration, Chiyoda acquired approximately 10% of the total issued shares of CTCI on August 17, 2011. Chiyoda also hopes that all those arrangement will help to increase the corporate value of two companies.

CTCI, headquartered in Taipei, Republic of China, is the largest engineering, procurement and construction firm in Taiwan and provides services in the fields of engineering, procurement and construction on a global basis for facilities of various industries.

Chiyoda, headquartered in Yokohama, Japan, is the leading engineering, procurement and construction firm in Japan and provides services in the fields of engineering, procurement and construction on a global basis for facilities of various industries.

Chiyoda Corporation
Naoyuki Nakayama, +81-45-506-7538
General Manager
IR & Public Relations Office
URL: http://www.chiyoda-corp.com/en