Mitsubishi Heavy Industries Ltd. said Friday it has started producing core components for gas turbines in China in a joint venture with a major Chinese turbine manufacturer in a bid to meet surging demand.
Mitsubishi Heavy's partner is Dongfang Steam Turbine Works, one of China's top three turbine manufacturers, based in Deyang, Sichuan Province, it said.
Mitsubishi Heavy and the Chinese turbine maker set up Mitsubishi Heavy Industries Dongfang Gas Turbine (Guangzhou) Co., a joint venture for manufacturing and marketing gas turbines, in July 2004, and have been building a plant and preparing for production, the Japanese company said.
The joint venture is capitalized at 2.7 billion, yen with Mitsubishi Heavy owning a 51 percent stake and Dongfang Steam holding the rest, Mitsubishi Heavy said.
The venture will produce and market core components.