Sojitz Corporation


Construction Work for the UBE POWER CENTER POWER PLANT Will Commence, Aiming at Joint Promotion of IPP Business by Nissho Iwai and Ube Industries, Ltd.

Oct. 15, 2001

TOKYO(Oct.15, 2001)--UBE POWER CENTER CO., LTD (President: Ryusuke Nakamura), which was established jointly by Nissho Iwai Corporation and Ube Industries, Ltd. (President: Kazumasa Tsunemi) in order to promote IPP business, will embark on construction work for the 'UBE POWER CENTER POWER PLANT' aiming at power wholesaling to The Chugoku Electric Power Co., Inc. from March, 2004.

The construction site is within Ube Chemical Factory located at 1978-10, Kogushi, Ube City, Yamaguchi Prefecture 755-8633, Japan. The ground breaking ceremony will be held on-site on October 19, 2001 from 10:30 in the morning. 

Ube Industries, Ltd. has a large in-house power generation facility (145,000kw), and cultivates various technologies and know-how through the construction, operation and maintenance of the said facility. Ube Industries, Ltd. also performs personnel training and maintenance work for related facilities. In order to participate in public utility works - power supply, utilizing management resources, Ube Industries, Ltd., in cooperation with Nissho Iwai, successfully entered a bid for the contract for power wholesaling offered by The Chugoku Electric Power Co., Inc. in FY1997. With the approval of The Chugoku Electric Power Co., Inc., UBE POWER CENTER CO., LTD was then awarded the contract for performing power generation operations. 

Upon proceeding with this project, a strict environmental assessment was conducted from February 1998 to February 2001, based on the Environmental Impact Assessment Law and the Electricity Enterprise Act, and it was confirmed that the impact of the implementation of this project on the surrounding environment would be small. 

The electric generating capacity planned by the UBE POWER CENTER is at a scale almost equal to the electricity usage of Ube City. 

The project is outlined as follows: 

About the Proprietor
Establishment: February 1998
Capital: Three billion yen (Capital: 1.5 billion yen; capital reserve: 1.5 billion yen) 
Investment Ratio: Ube Industries, Ltd.: 70% Nissho Iwai Corporation: 30%

About the Power Plant
Site area: Approximately 20,000 square meters
Power Generated: 216,000 kW (gross generating set power) 
195,000 kW (net generating set power) 
Power Generation Method: Boiler turbine power generation
Fuel used: Coal
Major customer: Fuji Electric Co., Ltd. 
Start of operation: March 1, 2004 (plan) 

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