8 March 2021
JFE Engineering Corporation
HOKURIKU GAS CO., LTD
INPEX CORPORATION (INPEX)
TOKYO, JAPAN - JFE Engineering Corporation, HOKURIKU GAS CO., LTD and INPEX CORPORATION (hereinafter, "consortium") jointly announced today they have been appointed as preferential negotiation right holders for the transfer of a gas business and commissioning of a public water and sewage business by the Myoko City municipality in Niigata Prefecture, Japan effective March 3, 2021.
The consortium submitted a proposal based on the consortium's extensive track record in gas and public water and sewage business operations. The proposal incorporates creativity, know-how and experience unique to the private sector while taking into account the local characteristics of Myoko City. The consortium will begin working towards the realization of the proposal. Following detailed discussions with the Myoko City municipality, the consortium plans to establish a new company in Myoko City in August 2021 and commence business operations in April 2022.
As a locally based entity, the new company will provide its customers with a safe and secure lifeline. In the future, the company seeks to expand its public utility services beyond gas and public water and sewage to include new business areas such as retail power and renewable energy and contribute to the development of the local economy.
About the new company
| Business | Gas supply business and public water and sewage business |
|---|---|
| Capital | 450 million yen |
| Date of establishment | August 2021 (scheduled) |
| Shareholders | JFE Engineering Corporation (51％) HOKURIKU GAS Co., Ltd. (44％) INPEX CORPORATION (5％) |
For inquiries regarding this press release, please contact:
- Public Relations Section, General Administration Department, JFE Engineering Corporation