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| February 9, 2006 No.1096 | ||
| MHI to Promote Integrated Urban Road Pricing Business Worldwide With Mitsubishi Corporation and MSI Global |
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| Tokyo, February 9, 2006 - Mitsubishi Heavy Industries, Ltd. (MHI), Mitsubishi Corporation and MSI Global Pte Ltd. of Singapore have agreed to jointly promote Integrated Urban Road Pricing (IURP) business. With IURP, the team will, on behalf of its clients, seek to ease traffic congestion in urban areas by levying fees on motor vehicles entering specified districts, on a pay-per-use basis. Applying MHI's experience and know-how in implementing the world's first electronic road pricing system (ERPS), delivered to Singapore in 1998, the team will promote IURP to other large cities, mainly in Asia. It anticipates approximately 10 billion yen sales per year. | ||||||
In parallel with the conventional ERPS that requires overhead gantries for toll collection, the team plans to propose a next-generation system that adopts the global positioning system (GPS), which uses satellites for flexible implementation. The team will promote IURP as a package encompassing a wide range of services, including feasibility study, solution provision, design, construction, system implementation, operation and maintenance, as well as funding support applying an integrated planning approach. The team will also propose a scalable and reliable smart-card settlement system for the new configuration. The ERPS smart card will be designed not only for ERPS payments but also for additional applications including other transportation modes such as buses, trains and taxis. This single smart-card scheme will enable more effective traffic management. Among the team members, MHI will be responsible for coordinating entire projects and system supply. Mitsubishi Corporation will handle commercial and legal matters, business development and financing, while MSI Global will be in charge of all aspects of consulting and system operation. At present, only Singapore and London have successfully implemented urban-type road pricing systems. However, traffic congestion and pollution are common challenges faced by large cities everywhere, especially Asia's rapidly developing megalopolises. The three cooperating companies will stimulate potential demand in such locations as the world's first one-stop-shopping team capable of providing tailored-made road pricing solutions ideally suited to the needs of each client. The team looks ultimately to develop IURP into a multi-billion dollar market. # # #
About MSI Global Pte Ltd MSI Global Pte Ltd was set up on February 8, 1995 as a consultancy company fully owned by the Land Transport Authority (LTA), a statutory board under the Ministry of Transport in Singapore. Leveraging on a skilled workforce of more than 1,200 professional and 900 technical staff from the LTA, MSI Global provides multi-disciplinary consultancy on transport policies and strategies for governments, transport authorities and transport companies of other countries. Its key solutions center on land transportation matters, including transportation planning, project management and implementation, rail systems engineering, infrastructure management, intelligent transport systems and demand management. About Mitsubishi Corporation Mitsubishi Corporation (MC) is Japan's largest general trading company (sogo shosha), with vast experience as a developer, financier, system supplier and O&M contractor of transportation systems worldwide. About Mitsubishi Heavy Industries, Ltd. Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of 2,590 billion yen in fiscal 2004 (year ended March 31, 2005). MHI's diverse lineup of products and services encompasses shipbuilding, steel structures, power plants, chemical plants, steel plants, environmental equipment, industrial and general machinery, aircraft, space rocketry and air-conditioning systems. For more information, please visit the MHI website (http://www.mhi.co.jp). PRESS CONTACT: Hideo Ikuno: h.ikuno@daiya-pr.co.jp Tel: +813-6716-5277, Fax: +813-6716-5929 Daiya PR (in charge of public relations for Mitsubishi Heavy Industries, Ltd.) |
