Latest news with #SumitomoCorporation
Yahoo
4 days ago
- Business
- Yahoo
Tivan, Sumitomo set up joint venture for WA fluorite project
Tivan has established an incorporated joint venture (IJV) with Sumitomo Corporation to develop the Speewah fluorite project in Western Australia, having met all conditions for the initial phase of investment (Tranche 1). Sumitomo Corporation and Japan Fluorite Corporation (JFC) – a subsidiary of Japanese Government entity the Japan Organization for Metals and Energy Security (JOGMEC) – have made an initial $5.3m (Y781.62m) equity investment in the IJV, securing a 7.5% equity interest in the project. The investment from JFC will finance a project feasibility study, which aims to establish mining and processing operations to produce high-quality acid-grade fluorspar for export. In May 2025, Tivan announced binding agreements with Sumitomo Corporation and JFC to form the IJV to develop, finance and operate the project. The conditions precedent for JFC's Tranche 1 investment included securing approval from the Australian Government Foreign Investment Review Board; Tivan's application to novate Australian Government grant funding; and the completion of the Project Restructure, which involved transferring project tenements to the IJV company, Fluorite SPV. Sumitomo Corporation has entered into binding agreements with JOGMEC, which will hold a 49% equity interest in JFC. Tivan executive chairman Grant Wilson said: 'We are greatly honoured to have secured the involvement of JOGMEC in our joint venture. We look forward to ongoing collaboration with their technical team in Tokyo. 'The pathway we have created to final investment decision is being funded by contributions from Tivan and Sumitomo Corporation, and the governments of Australia and Japan. This model of private-public risk sharing is optimal in its design for the Speewah Fluorite Project and reflects the enduring strength of the bilateral relationship between Australia and Japan.' In June, Tivan received approval from the Australian Government's Foreign Investment Review Board for its initial investment in the Speewah project through JFC. "Tivan, Sumitomo set up joint venture for WA fluorite project" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
4 days ago
- Automotive
- Business Standard
Mahindra Industrial Park, Sumitomo Corp sign strategic deal with Osaka govt
In a significant step towards strengthening India–Japan industrial collaboration, Mahindra Industrial Park Chennai Limited (MIPCL), the developer and operator of Origins by Mahindra, along with its 40 per cent stakeholder and marketing arm in Japan, Sumitomo Corporation, has signed a strategic cooperation agreement with Osaka Prefecture and the Osaka Industrial Development Bureau (a public interest incorporated foundation that supports Japanese companies based in Osaka in expanding their footprint in India). This milestone partnership reinforces Mahindra's commitment to facilitating high-quality global investment into India's manufacturing sector and positions Tamil Nadu as a preferred destination for Japanese industry. Through this agreement, MIPCL and Sumitomo Corporation will work closely with public institutions to serve as local facilitators for Osaka-based companies exploring opportunities in India. As part of the collaboration, MIPCL and Sumitomo Corporation will support business visits, provide on-ground consultation, and participate in knowledge-sharing seminars hosted in Osaka. The Osaka authorities, in turn, will identify and recommend companies interested in expanding into India, ensuring necessary permissions are in place to facilitate a streamlined entry process for Japanese manufacturers. India, with its projected GDP growth of 6.3 per cent in FY2025 as forecast by the World Bank, remains a powerful draw for international business. As a rising leader in the Global South, India is increasingly seen as a long-term partner for global supply chains. Chennai, in particular, has become a hub of industrial activity due to its strong port connectivity, ease of access to Southeast Asia, and growing presence of automotive, electronics, and semiconductor companies. Origins by Mahindra, Chennai, already hosts six Japanese clients and offers world-class infrastructure and a stable policy environment. The collaboration in Chennai will further strengthen these efforts by enabling tailored support for businesses evaluating the Indian market. MIPCL, backed by Mahindra Lifespaces' deep knowledge of Indian industry, will play a key role in helping Japanese firms navigate regulatory frameworks, secure land and utilities, and scale up operations with confidence. Amit Kumar Sinha, Managing Director and Chief Executive Officer, Mahindra Lifespace Developers Ltd., said, 'This partnership reflects our vision to build future-ready ecosystems that align with India's manufacturing ambitions. It also underscores our focus on setting new benchmarks through successful Public-Private Partnerships (PPPs), enabling long-term, sustainable industrial progress. The expansion strengthens India's industrial ecosystem and supports economic growth.' Vikram Goel, Chief Business Officer (Industrial), Mahindra Lifespace Developers Ltd., said, 'This engagement with Osaka Prefecture marks a milestone in our efforts to enable global investments into India through our industrial ecosystems. Origins by Mahindra, Chennai, has been developed to meet the needs of international manufacturers, offering operational readiness, regulatory support, and integrated infrastructure. Through this collaboration, we are well-positioned to support the specific requirements of diverse companies while also deepening the socio-economic impact of our industrial cluster in Tamil Nadu.' The agreement underlines the spirit of cooperation and mutual interest shared by all parties. By aligning strategic intent with operational expertise, this partnership marks a new chapter in Mahindra's efforts to attract and enable world-class manufacturing in India.
Business Standard
18-07-2025
- Automotive
- Business Standard
MIPCL- Sumitomo Corporation sign strategic cooperation agreement with Osaka Govt.
To support Japanese businesses expanding into India Mahindra Industrial Park Chennai (MIPCL), the developer and operator of Origins by Mahindra, together with its 40% stakeholder and marketing arm in Japan, Sumitomo Corporation, has signed a strategic cooperation agreement with Osaka Prefecture, and the Osaka Industrial Development Bureau (a public interest incorporated foundation to support Japanese companies based in Osaka in expanding their footprint in India. This milestone partnership reinforces Mahindra's commitment to facilitating high-quality global investment into India's manufacturing sector and positions Tamil Nadu as a preferred destination for Japanese industry. Through this agreement, MIPCL and Sumitomo Corporation will work in close coordination with public institutions to serve as a local facilitator for Osaka-based companies exploring opportunities in India. As part of the collaboration, MIPCL and Sumitomo Corporation will support business visits, provide on-ground consultation, and participate in knowledge-sharing seminars hosted in Osaka. The Osaka authorities, in turn, will identify and recommend companies interested in expanding into India, with necessary permissions, ensuring a streamlined entry process for Japanese manufacturers. India, with its projected GDP growth of 6.3% in FY2025 as forecast by the World Bank, remains a powerful draw for international business. As a rising leader in the Global South, India is increasingly seen as a long-term partner for global supply chains. Chennai, particularly, has become a hub of industrial activity due to its strong port connectivity, ease of access to Southeast Asia, and growing presence of automotive, electronics, and semiconductor companies. Origins by Mahindra, Chennai already is home to six clients from Japan and offers world-class infrastructure, and stable policy environment. The collaboration in Chennai will further strengthen these efforts by enabling tailored support for businesses evaluating the Indian market. MIPCL, backed by Mahindra Lifespaces' deep knowledge of Indian industry, will play a key role in helping Japanese firms navigate regulatory frameworks, secure land and utilities, and scale up operations with confidence.
Business Upturn
18-07-2025
- Automotive
- Business Upturn
Mahindra Lifespaces and Sumitomo ink strategic pact with Osaka to support Japanese businesses in India
By Aditya Bhagchandani Published on July 18, 2025, 17:15 IST Mahindra Lifespace Developers Ltd., through its subsidiary Mahindra Industrial Park Chennai Limited (MIPCL) and its joint venture partner Sumitomo Corporation, signed a Strategic Cooperation Agreement with the Osaka Government and the Osaka Industrial Development Bureau to facilitate the entry of Japanese companies into India. The agreement, announced on Friday, strengthens India–Japan industrial collaboration by positioning Chennai as a hub for Japanese investments, particularly in manufacturing. Key details of the agreement MIPCL, the developer and operator of Origins by Mahindra , together with Sumitomo, will act as facilitators for Osaka-based companies looking to establish operations in India. They will support business visits, consultations, and knowledge-sharing seminars in Osaka, while the Osaka authorities will identify and recommend potential investors from Japan. The collaboration aims to streamline the process for Japanese firms by offering regulatory guidance, on-ground support, and access to world-class infrastructure, ensuring their smooth entry and expansion into India. Comments from Mahindra Lifespaces leadership Amit Kumar Sinha , Managing Director & CEO, said: 'This partnership reflects our vision to build future-ready ecosystems that align with India's manufacturing ambitions. It underscores our focus on setting new benchmarks through successful Public-Private Partnerships (PPPs), enabling sustainable industrial progress.' Vikram Goel, Chief Business Officer (Industrial), added: 'Our engagement with Osaka marks a milestone in enabling global investments through our industrial ecosystems. 'Origins by Mahindra' is tailored for international manufacturers, offering operational readiness, regulatory support, and integrated infrastructure.' Why Chennai? India's projected GDP growth of 6.3% in FY25, coupled with Chennai's strong port connectivity and industrial ecosystem, make it an attractive destination for Japanese companies. Origins by Mahindra in Chennai already hosts six Japanese clients and spans approximately 600 acres. About the stakeholders Origins by Mahindra, Chennai : A joint venture between Mahindra World City Developers (a PPP with Tamil Nadu Industrial Development Corporation) and Sumitomo Corporation. The cluster is IGBC Platinum pre-certified and strategically located on NH-16, part of the Golden Quadrilateral. Mahindra Group: A multinational federation of companies with a presence in over 100 countries, focused on ESG leadership, rural prosperity, and urban living. This collaboration is expected to deepen India-Japan economic ties, enhance Tamil Nadu's role in global supply chains, and contribute to India's industrial growth story. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
ABC News
07-07-2025
- Business
- ABC News
Developer warns wind energy capacity may not be ready by WA coal deadline
A wind developer undergoing what it says is a "marathon" approval process says it may not be operational by the time Western Australia's coal-fired power stations are switched off. The WA government has set a 2030 deadline for the wind-down of coal-fired power generation, and has backed onshore wind as a key part of the state's new electricity mix. Projects planned for southern WA include wind farms around West Arthur, Narrogin, Williams, Boddington and Scott River. However, many are yet to begin construction and a developer says the 2030 deadline may need to be extended to keep the lights on. In Boddington, about 130 kilometres south of Perth, the companies behind the Marradong Wind Farm are yet to make a final investment decision. The 45-turbine, 300-megawatt project is a collaboration between developers Wind with Purpose and Quenda Wind Power. The latter is a subsidiary of Sumitomo Corporation, which partially owns the struggling Bluewaters Power Station in Collie. Quenda business development head Daniel Kurz said meeting the state government's 2030 "line in the sand" would be challenging. Wind with Purpose chief executive Chris Kearney said while the project was currently on track to be operational by 2029, there was not much wiggle room. "If we don't hit our targets for getting this project online, and likewise if Western Power don't have the infrastructure to connect these projects, then the reality is coal-fired power plants may have to stay online a few years longer than planned," he said. The Marradong Wind Farm would use existing power infrastructure in the area. But 100km down the road, RES Australia's wind farm — more than twice the size of the Marradong project with 110 turbines — would rely on transmission infrastructure being upgraded. Once operational, the project in Dardadine, 197km south-east of Perth, would generate enough electricity to power up to 450,000 homes. It is also yet to progress beyond the consultation and assessment stage. Development director Greg Wilkinson said construction should start by 2028, with a view to being fully operational by the end of 2031. But he said if the project went ahead and the power infrastructure was ready, he was willing to bring it forward. "We're working with Western Power and Powering WA to ensure that we can get this project up and powering WA homes as soon as we can," Mr Wilkinson said. The Clean Energy Council's Chris O'Keefe said a lack of transmission lines was a sticking point for the industry. "The WA government needs to build 250 kilometres of new transmission lines," he said. "[Otherwise] we might have a situation where we're generating two or three gigawatts of onshore wind, yet there's not enough transmission to get it to the places where it needs to get to." The Cook government's latest budget included $584.3 million to be spent on network upgrades and the expansion of the Clean Energy Link. It has also promised to set up transmission manufacturing hubs in Perth and the South West. The WA government said it was not relying on a controversial, federally backed offshore wind project to be ready by 2030. But Energy Minister Amber-Jade Sanderson said onshore wind would be "critical" heading into 2030. "We do support a sensible mix of renewable energy and big battery storage … [and] we will still continue to need gas as a firming fuel as we exit coal," she said. Ms Sanderson said she would work with proponents on what was needed. However, Mr O'Keefe said he was worried work was not happening quickly enough. "They need to crack on with that if that 2030 target is to be met."
