Japan backs firms' green city projects abroad

Jan 06, 2011
A worker cleans solar panels on the roof of a residential house in a complex close to Kolkata. Japan is financially backing its companies that are seeking to build "green cities" -- communities with low pollution and renewable energies -- in India and elsewhere, a report said Thursday.

Japan is financially backing its companies that are seeking to build "green cities" -- communities with low pollution and renewable energies -- in India and elsewhere, a report said Thursday.

The public-private Innovation Network Corp. of Japan plans to invest up to 130 billion yen ($1.5 billion) in such eco-community projects, more of which are planned for China and Southeast Asia, the Nikkei daily said.

The Ministry of Economy, Trade and Industry has set aside 40 billion yen in funds within its investment and loan programme for fiscal 2011 to cover the fund supply for smart-community development abroad, the daily said.

Innovation Network will first provide 10 billion yen to a consortium including Mitsubishi Heavy Industries, Corp. and Electric Power Development, which is set to sign an initial agreement in India this month.

In so-called green or smart city projects, high-tech companies map out and build entire communities with efficient and clean power supplies, housing, public transport and water and sewerage systems.

A special-purpose company to be set up for the Indian project as early as the summer will plan the facilities, water processing and urban transport systems in Gujarat state, the Nikkei said.

In future Innovation Network plans to invest in other projects as Toshiba, Hitachi and other firms also explore projects in India, and other companies look for opportunities in China, Indonesia and Vietnam, the report said.

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danlgarmstrong
5 / 5 (1) Jan 06, 2011
Asia has an opportunity to leapfrog the U.S. here. We are currently forced to maintain inefficient, sprawling metropolitan areas built in an era of cheap gasoline. Asia is building many new cities now, planned for sustainable existence. The generation that grows up in them will be educated, healthy and will contribute immensely to new innovation,technology, art and philosophy. I hope we in the west wont be too arrogant to learn from them.
Quantum_Conundrum
not rated yet Jan 06, 2011
I'm not aware of any significant advancements in mass transit or energy in the U.S. in my entire life time.

People have been "talking" about mass transit and archology for decades, but then that's all they ever do: Talk.

If they managed to patch or re-pave a road, the state and local governments are convinced they did something noteworthy.