Japan’s Innovation Network Corp of Japan, a public-private network, is financially backing its companies with JPY 130bn to build smart and green cities, communities with low pollution and renewable energies with efficient and clean power supplies, housing, public transport, and water and sewerage systems.
The Ministry of Economy, Trade and Industry has set aside JPY40bn within its investment and loan programme for smart community development abroad this year. Innovation Network will first provide JPY10bn to a special-purpose consortium that includes Mitsubishi Heavy Industries, Mitsubishi Corp and Electric Power Development, which will sign an initial agreement with India this month to build solar power facilities, water processing and urban transport systems in Gujarat.
Other key markets of special interest to the Innovation Network include China, Indonesia, and Vietnam.
