Japanese construction mogul Mitsubishi Heavy Industries (MHI) has shown interest in building up Australia’s new submarines in case it requires it.

Mitsubishi’s Chief Executive Shunichi Miyanaga praised the Australian workforce, saying the nation’s force is capable enough to construct the vessels. The boss denied claims made by the Financial Times this week that stated the Turnbull government is putting pressure on Japan to unveil the cost breakdown likely to be bid for the construction.

“As the leading company of this project … I have come here and I think the bidding process … is [making] very smooth progress. We have been exchanging the questions and answers so I don’t have any such kind of concerns and problems,” he said.

Miyanaga is on tour in Australia to promote and answer queries relating to the company’s bid for submarines contract. The chief will inspect the nation’s shipyards and will find out the potential areas of cooperation that can be initiated between Mitsubishi and Australian industry and research organisation. “If it is requested by the Australian government, we would be very much willing to do so,” SBS quoted Miyanaga as saying when asked whether he was interested in building submarines in Australia.

Miyanaga did not advocate making an investment in the government-owned Australian Submarine Corporation (ASC) with an aim to improving Mitsubishi’s chances to win the bid. “I have expressed our willingness to do the business in Australia. In many countries, we have been operating very smoothly and well in the form of joint ventures, sometimes in the form of 100 percent investment, sometimes acquisitions, sometimes new investment,” the boss said as quoted by the Sydney Morning Herald.

“But I would like to discuss further [the prospect of investing in ASC]. We have been very successful in this kind of gigantic project to form such collaboration schemes, sometimes in a joint venture in the early stages, which can be taken over, step by step, by the customer country’s companies.


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