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Kanadevia and Nippon Steel Engineering signed an initial agreement on February 5 to explore a merger by April 2027, aiming to finalize their decision by November 2026. They anticipate a rise in demand for waste management and waste-to-energy plants in Japan and internationally.

Kanadevia has expanded its decarbonization initiatives, including investments in ammonia-fuelled ship engines and green technology. The merger could create a company with over 1 trillion yen ($6.37 billion) in sales, positioning it as a leader in Japan's plant engineering sector.