Mitsubishi Paper, MHI to build 86-MW biomass station in Japan - report

(SeeNews) - Jun 4, 2014 - Japanese companies Mitsubishi Paper Mills Ltd (TYO:3864) and Mitsubishi Heavy Industries Ltd (TYO:7011) intend to jointly install an 86-MW biomass facility in the northern part of the island country.

For the purpose, the two parties will establish a joint venture in August, a spokesperson for Mitsubishi Paper told Bloomberg today in a phone interview.

According to the representative, the JPY-38-billion (USD 370.4m/EUR 272m) project will be located at a Mitsubishi Paper production facility in Aomori prefecture. The biomass plant will use as fuel black liquor generated in the making of pulp, the spokesman was cited as saying.

The plant is anticipated to begin operations in 2017.

According to recent statistics by the Ministry of Economy, Trade and Industry (METI) of Japan, the country's biomass power capacity stood at 2.4 GW as of February 28, 2014.

(JPY 10 = USD 0.975/EUR 0.715)

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