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Nippon Steel & Sumikin Engineering expect growing geothermal business

Nippon Steel & Sumikin Engineering expect growing geothermal business Pipes at Krafla plant, Iceland (source: flickr/ Andrea de Poda, creative commons)
Alexander Richter 21 May 2013

Nippon Steel & Sumikin Engineering Co. plans an expansion of its geothermal business and expects annual revenues to hit $49 million by 2015 mostly due to projects in Japan, Indonesia and other Asian countries.

With the ongoing development activities in Asia, Nippon Steel & Sumikin Engineering Co. is planning an expansion of its activities in Asia, among others in Japan and Indonesia.

As Bloomberg reports, the company is a unit of Nippon Steel and Sumitomo Metal Corp. and expects annual sales to reach 5 billion Japanese Yen ($49 million) in annual sales from its geothermal business as early as 2015.

The company has been providing steam field equipment and pipelines for more than half of the geothermal power plants that currently operate in Japan.

Japanese geothermal companies, among them turbine producers such as Mitsubishi, Toshiba and Fuji, as well as power firms such as Kyushu and engineering groups have increased their efforts to tap into the growing geothermal market in Asia and beyond.

Source: Bloomberg Businessweek