Mitsubishi Heavy to invest 100 bil. yen to ramp up shipbuilding capacity

Mitsubishi Heavy Industries Ltd. said Friday it will invest 100 billion yen ($634 million) to expand its shipbuilding capacity, as demand is expected to grow after the government included the business in 17 strategic sectors.On the same day, the company bought a site on an artificial island from the city government of Shimonoseki, Yamaguchi Prefecture, to transfer some of its operations from its Shimonoseki shipyard.Its fully-owned Mitsubishi Shipbuilding Co. will begin setting up facilities on Choshu Dejima, western Japan, in 2027 to start operations in 2030.Prime Minister Sanae Takaichi h…READ FULL ARTICLE