JGC Holdings Corporation (Chairman and CEO Masayuki Sato) announces that JGC Corporation (President and CEO Yutaka Yamazaki), which operates the overseas engineering, procurement and construction (EPC) business of the JGC Group, has concluded an agreement on September 30 regarding capital participation with a UK Software company, MODS Management Ltd.

MODS (CEO Jon Bell) is one of the world's leading Energy Software companies in the field of projects and maintenance for facilities in the oil and gas sector, developing and licensing digital solutions that provide sustainability and economic viability. (See "Company Profile" below).

JGC Corporation concluded a share purchase agreement with MODS and subsequently took over a substantial allocation of the issued shares from its existing shareholders. The investment amount of JGC Corporation will be around 1 billion yen. At the same time as this investment, we plan to build on our existing strategic partnership agreement with MODS.

Under the "IT Grand Plan 2030" formulated in December 2018, JGC Corporation aims to improve the competitiveness of project execution, including activities for the continuous implementation of AWP (Advanced Work packaging) (Note 1). Together with MODS we are accelerating the active use of DX to benefit the energy industry and beyond.

JGC Corporation and MODS have jointly developed a digitalized construction solution (Note 2) for implementing AWP and other intelligent construction solutions which is based on their existing project and maintenance solution (MODS Connect). Our AWP solution specialized for the construction of EPC projects was first introduced onto a project in 2016, and continues to evolve across multiple projects across the globe.

With a capital participation in the company, JGC Corporation aims to improve the competitiveness of project execution by working with MODS to further improve our digitalized construction system and introduce the solution to all AWP managed projects. Not only that, we plan to continuously develop the existing solutions that are used by MODS existing customers when building, expanding, maintaining, and operating facilities across the globe. Linking the expertise of both companies we aim to provide a best in class digital solution covering project execution through to operations and maintenance.

Note 1: AWP (Advanced Work Packaging)

By subdividing the work in each phase of project execution and managing it in relation to the construction work, the bottleneck in the work execution is eliminated, the waiting time in the construction work is eliminated, and thus the efficiency is improved. The efficiency of project execution through AWP began to be advocated in North America around 2012, and is fast becoming industry standard practice.

Note 2: Construction digitization system

The 3D model is used to visualize the progress of construction and commissioning, linked to paperless permits, inspection documents, leak testing management and hand-over via mobile technology, providing the latest information necessary for project construction and hand-over, for the extend organization.

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