|JGC Corporation (formerly Japan Gasoline Co., Ltd.) was founded on 25 October 1928 with a capital of 2.5 million yen, its offices being located at Uchisaiwai-cho, Koji-machi, in Tokyo. The purpose of the establishment was to purchase cracking processing technology from UOP (Universal Oil Products) of the U.S.A. with the intent to construct and operate an oil refinery on the Pacific Rim. However, the Company opted to withdraw from refinery operations for several reasons, and instead, focused its business operations on promoting the UOP processing license. To further this new direction, the Company commenced engineering operations during the 1930's.|
|Restoration from WWII included new construction
as well as modernization of oil refinery plants in Japan, with the re-opening
of domestic refineries in 1950. At about this time, the Company expanded
its engineering operations as the sudden rise of the petrochemical industry
created many orders for oil refinery plants.
In 1956, the Company secured a lump-sum contract to construct the new Tokuyama Refinery of Idemitsu Kosan, Co., Ltd., which was the first large scale grass-roots petroleum refinery in Japan. The new project was fully completed under a tight schedule and served to solidify the Company's reputation as a successful and reliable engineering contractor.
From the late 50's Japan entered a phase of rapid economic growth that in turn brought about a drastic increase in energy demand. This led to numerous projects to construct new petroleum refineries and petrochemical plants.
At the same time, the Company consecutively won contracts to construct
petroleum refineries and petrochemical plants, and confidently grew into
a major engineering contractor to support the growth and advancement of
the Japanese economy. In 1962, the Company was listed in the Second Section
of the Tokyo Stock Exchange.
Activities to enter the foreign market started in the early 60's, and by 1965 the Company had grown into a global contractor after winning refinery projects in Peru, Argentina and Venezuela. These projects, as plant exports from Japan, are highly evaluated by industry as significant pioneering achievements.
In 1965, JGC opened their Seoul, Korea Office, which was the Company's first overseas operations base. Business soon extended to enter markets in China and Southeast Asia, in addition to South America, as well as in North Africa and Eastern Europe. Among all of these the Arzew Refinery project was of special significance in boosting the Company's presence in Algeria that continues at a high level today.
Through the years, the Company expanded into diverse fields of business including nuclear power, pharmaceutical and food products. By 1969, the Company joined the First Section of the Tokyo Stock Exchange market.
Then came the "dollar shock" and the oil crisis. However, the Company still maintained over a 50% contract rate for foreign projects in 1975. This not only maintained income from orders and sales, but also solidified the Company's foundation as a global engineering contractor.
In 1976, the Company was awarded the largest contract in the plant export business in Japanese history, with the construction of a natural gas processing plant in Hassi R'Mel, Algeria.
The project to modernize a refinery in Kuwait, awarded in 1980, was undertaken by fully applying epochal methods in modern project management and was completed with successful results.
In the meantime, the Company continued to grow with the establishment of additional offices and local affiliates abroad that served to develop a global network and enhance the organization to undertake foreign projects. As a result, the Company continued to receive contracts for major LNG plant projects in Malaysia and Australia, as well as the construction of a refinery in Nigeria and an ethylene plant in China.
In 1976, the Company changed its name from Japan Gasoline Co., Ltd. to JGC Corporation.
|1985 to present|
In 1985 came the Plaza Agreement that resulted in the sudden appreciation of the Japanese Yen, which resulted in immediate attention being called for in order to survive the global cost race resulting from the continued rise of the currency. As a consequence, the Company founded and developed engineering subsidiaries abroad, expanded overseas procurement of equipment, and promoted IT (Information Technology) for project management to remain a healthy competitor in the global market. Effort was similarly focused on developing the pharmaceutical, chemical, nuclear power, environmental and other general industry fields.
The Asia money crisis in 1997 led to sourcing and expanding business in South America, the Middle East and CIS. From the late 1990's when the curtains opened to mega-competition in the engineering industry, the Company thoroughly pursued globalization in projects by effectively and widely utilizing foreign resources to enable the Company to compete in the global cost race.
The year 1997 was also when the main office operations in Otemachi, Tokyo merged with the engineering center in Minami-ku, Yokohama, to found the Yokohama World Operations Center (Yokohama Headquarters) in the Minato-Mirai area of Nishi-ku, Yokohama.
Today, the Company has developed into a globally recognized world-leading
engineering contractor. JGC is currently one of the four largest specialists
in LNG projects, well-positioned to respond to increased demands for natural
gas projects. To remain a leading engineering contractor in the world
the Company must persist in expanding business domains in accordance with
the strategic middle-term business plan defined in the "Growth Scenario".
It is also imperative to honor the goals of "Engineering for the
Quality of Human Life", and aggressively undertake R&D to effectively
utilize energy and develop clean energy sources, backed by the corporate
mission to protect the global environment.