Mitsubishi to send 30 managers to rebuild plant builder Chiyoda

Trading house's third bailout will keep affiliate on shorter leash

A Chiyoda liquefied natural gas plant in Qatar. The plant engineering company hopes for synergy with Mitsubishi Corp.'s global LNG operations. (Photo courtesy of Qatargas)

SHUICHIRO SESE and YUTA SUGIURA, Nikkei staff writers

May 10, 2019 05:52 JST

TOKYO -- Trading house Mitsubishi Corp. said Thursday that together with MUFG Bank it will extend a total of 180 billion yen ($1.63 billion) in funding to Chiyoda, and send about 30 executives and managers, as part of an effort to help the plant-engineering company recover from recent massive losses.