Chiyoda Awarded Contract for Front-End Engineering Design of Polycrystalline Silicon Plant for Tokuyama Corporation

Business Wire, Nov 28, 2008

YOKOHAMA, Japan -- Chiyoda Corporation (TOKYO:6366)(ISIN:JP3528600004), Japan's leading engineering and construction firm, has been awarded a contract by Tokuyama Corporation (Head Office: Shibuya, Tokyo, President: Shigeaki Nakahara) for the Front-End Engineering Design (FEED) of a polycrystalline silicon plant in Malaysia. The FEED work is scheduled to be completed in the first half of 2009.

[TABLE OMITTED]

Chiyoda will undertake the FEED work for the polycrystalline silicon plant (annual production scale 3,000 tons; expected to commence operations in 2012) that Tokuyama Corporation is planning to build in Bintulu, Sarawak, Malaysia. The polycrystalline silicon manufactured will be used as raw material for semiconductors and solar cells. This is the first overseas production base to be constructed by Tokuyama Corporation, one of the world's leading polycrystalline silicon manufacturers, and Chiyoda Corporation has been involved in the project from the master plan preparation stage. Chiyoda will execute the FEED work making use of the expertise of its local subsidiary Chiyoda Malaysia Sdn. Bdn.

Chiyoda has a solid record in the field of non-hydrocarbons, and has established a support system that makes use of the local expertise of its overseas group companies, in line with the increase in overseas plant construction by domestic clients in recent years. We will fulfill the expectations of our client, who has selected us as a partner, and through the execution of FEED work aim to continue working with the client to achieve its plans for engineering, procurement and construction (EPC) and other work. Together with Chiyoda Malaysia, Chiyoda aims to secure new EPC contracts and provide a variety of plant lifecycle engineering services* following construction, including operation and maintenance.

*Plant lifecycle engineering: a client-centered business model that involves providing services throughout the entire plant lifecycle, from business planning and plant construction, operation, maintenance, modification and expansion, and decommissioning.

Chiyoda Corporation, headquartered in Yokohama, Japan, provides services in the field of EPC for gas processing, oil refineries and other hydrocarbon processing and industrial plant projects, particularly in Gas Value Chain areas, on a global basis including the Middle East, Russia, Africa and Southeast Asia. For over 60 years, Chiyoda has constantly leveraged its extensive experience and a far-reaching global network to give it an unrivaled advantage.