Chiyoda Corporation
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CHIYODA CORPORATION was established January 20, 1948.It serves as a Integrated Contractor, mainly to the hydrocarbon and chemical industries. Its serrvices can be further subdivided into Services Project & Program Management, Feasibility Studies, FEED ,Engineering, Procurement, Construction, Commissioning, O & M and Asset Management.
[edit] History
CHIYODA Corporation was formed by Mr. Akiyoshi Tamaki, who had been a manager of the construction division at Mitsubishi Oil Co., Ltd. (NIPPON OIL CORPORATION at present), which was substantively liquidated just after World War II.With the support of the senior executives of Mitsubishi Oil, he established CHIYODA Corporation in January 1948, two years after the war, with 25 employees. Accepting Mr. Tamaki's strong desire, Mr. Shigeo Okubo, who had been the president of Mitsubishi Oil at the end of the war, became the first president of the new company. CHIYODA grew with the development of Japanese petroleum industry and went public in 1957. In 1960, the amount of the order received exceeded 10 billion yen, and the number of employees reached to 1,400. In 1961, CHIYODA was listed on the first section of the Tokyo Stock Exchange.
In 1959, when OPEC was established, CHIYODA established its overseas sales division. In 1962, CHIYODA made an official visit to Saudi Arabia as the natural gas development and utilization survey team, with Mitsubishi Corporation and some other companies. In 1963, CHIYODA set up international procurement division. In 1966, CHIYODA acquired the order of the construction of Jeddah refinery (phase I) in Saudi Arabia as its first oversea turnkey construction project. The project was the pioneer of CHIYODA's projects in Saudi Arabia, which led to receiving following orders, such as construction of Jeddah refinery (phase II), construction of Riyadh refinery (phase I & II), and Yanbu refinery (1980). In 1970, the amount of the order received exceeded 100 billion yen, and the number of the employees reached to 2,700. In 1980, Iran-Iraq War occurred suddenly, and crude oil price skyrocketed to $30 to 40 a barrel. For three consecutive years from 1980, the amount of order received rose to 350 billion yen level, and the number of employee reached to 3,500.
- CHIYODA has increased its subsidiaries and affiliates up to 51 in 1999. During 1990s, Asian economy had rapidly grown and Southeast Asian market perked up. However, at the moment, Korean companies had technologically caught up with Japanese companies in refinery and general chemical plant field.
- CHIYODA has made a number of accomplishments in LNG market since 1973. CHIYODA undertook construction of a LNG plant in United Arab Emirates as the first Japanese company in Middle East region.
