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TOSHIBA CORP, Hitachi Zosen Corp, Sumitomo Electric Industries Ltd, Toa Corp, Toyo Construction Co Ltd Others To Invest $1.53 Billon On Wind Power-Reuters

Monday, 3 Sep 2012 05:17am EDT 

Reuters reported that TOSHIBA CORP, Hitachi Zosen Corp, JFE Steel Corp and three other companies plan to invest JPY120 billion ($1.53 billion) over a decade to set up offshore wind turbines, the Nikkei reported. Potential sites for the project, which will have a production capacity of 300,000 kilowatts, include areas off the coast of the Kyushu region in southern Japan. Sumitomo Electric Industries Ltd, Toa Corp and Toyo Construction Co Ltd are the other companies, the Japanese business daily said. Funds will be raised through a special-purpose company and project financing. 

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