Sojitz (TYO:2768) plans to bid for public sector projects worth over $6 billion in Australia as part of a bold push into new markets, Nikkei reported on Thursday, citing Sojitz executive Takefumi Nishikawa.
The group, via newly acquired Capella Capital Partnership, is eyeing projects including a 1.8 trillion yen power transmission, a 230 billion yen hospital, and stadium construction for the 2032 Brisbane Olympics, the publication said.
The trading house acquired Capella Capital Partnership last June and the Australian infrastructure developer has since won more than half of its bids since 2009, the news agency said.
Capella operates as a tier 1 contractor in Australia, managing everything from project financing to asset management for large-scale public-private partnerships, including hospitals and housing developments, the report said.
Nishikawa, who is the chief operating officer of Sojitz's energy solutions and public infrastructure division, said the acquisition will boost profitability by allowing the firm to deal directly with clients rather than serving as a tier 2 supplier, it added.
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