The country’s competition regulator (CADE) approved the plan,first announced last month, to buy a 30% stake in Ecovix Engevix for JPY 30bn(295m).
MHI is fronting half the cash with the rest split betweentrading house Mitsubishi Corp, Imabari Shipbuilding, Namura Shipbuilding andOshima Shipbuilding.
The consortium hopes the investment will give it a footholdin the fast growing offshore market and eventually overtake Korean, Singaporeanand Chinese competitors.
Ecovix
