In a momentous collaboration, Mitsui O.S.K Lines (MOL) and Toyo Construction have inked a contract on June 9 to establish a joint venture that focuses on the realm of offshore wind power generation. The decision to form this partnership emerged following an extensive study and deliberation of prospects for collaboration in the offshore wind power generation sector, as highlighted in the press release of February 21, 2022, titled "MOL and Toyo Construction Sign MoU on Collaboration in Offshore Wind Power Generation Related Work Vessel."This joint venture aims to foster robust synergies across multiple facets of offshore wind power, encompassing survey planning, work vessel procurement, and offshore construction. By melding MOL's extensive experience in ship construction, ownership, and operation with Toyo Construction's profound expertise, human resources, and technological advancements in offshore construction and wind power generation, the joint venture aspires to address the demand for work vessels in the offshore wind power generation business. Moreover, it seeks to play a vital role in the value chain as an engineering and solutions enterprise, catering to a wide spectrum of businesses connected to offshore wind power, which is poised to assume a pivotal role in the world's future renewable energy supply.The joint venture is scheduled for establishment in June 2023, with an initial paid-in capital of ¥5 million. The shareholders of the joint venture will be Mitsui O.S.K. Lines, Ltd. (50%) and Toyo Construction Co., Ltd. (50%). The business scope of the joint venture encompasses engineering and construction of offshore wind power generation projects, procurement and operation of diverse work vessels associated with offshore wind power generation, as well as various other ventures connected to offshore wind power generation.
In a momentous collaboration, Mitsui O.S.K Lines (MOL) and Toyo Construction have inked a contract on June 9 to establish a joint venture that focuses on the realm of offshore wind power generation. The decision to form this partnership emerged following an extensive study and deliberation of prospects for collaboration in the offshore wind power generation sector, as highlighted in the press release of February 21, 2022, titled "MOL and Toyo Construction Sign MoU on Collaboration in Offshore Wind Power Generation Related Work Vessel."This joint venture aims to foster robust synergies across multiple facets of offshore wind power, encompassing survey planning, work vessel procurement, and offshore construction. By melding MOL's extensive experience in ship construction, ownership, and operation with Toyo Construction's profound expertise, human resources, and technological advancements in offshore construction and wind power generation, the joint venture aspires to address the demand for work vessels in the offshore wind power generation business. Moreover, it seeks to play a vital role in the value chain as an engineering and solutions enterprise, catering to a wide spectrum of businesses connected to offshore wind power, which is poised to assume a pivotal role in the world's future renewable energy supply.The joint venture is scheduled for establishment in June 2023, with an initial paid-in capital of ¥5 million. The shareholders of the joint venture will be Mitsui O.S.K. Lines, Ltd. (50%) and Toyo Construction Co., Ltd. (50%). The business scope of the joint venture encompasses engineering and construction of offshore wind power generation projects, procurement and operation of diverse work vessels associated with offshore wind power generation, as well as various other ventures connected to offshore wind power generation.
