Japan announces investment for smart cities, CBIC and energy management

Japan has announced $35 billion investment or Rs 210,000 crores of public and private investment and financing to India over the next five years for smart cities, Chennai-Bengaluru Industrial Corridor (CBIC),  energy management and others.

The investment will help in the creation of new generation smart community projects across six states in India along Delhi-Mumbai Industrial Corridor (DMIC) Project resulting in a new era of industrial infrastructure development across the corridor.

In the Chennai-Bengaluru Industrial Corridor (CBIC),  focus is on finalisation of the perspective plan and the designation of three cities, viz. Ponneri in Tamil Nadu, Krishnapatnam in Andhra Pradesh and Tumkur in Karnataka, as potential industrial nodes. Both sides instructed their officials to expeditiously finalise the master plan and the development plan of the three cities by the end of March 2015.

Both sides applauded the MoU signed in August 2014 for the model project by New Energy and Industrial Technology Development Organization (NEDO) for energy management system in telecommunication towers. Both sides applauded progress of discussion on business cooperation in renewable energy after the first India-Japan public-private round table for renewable energy held in India in January 2014.

The two countries welcomed further progress in ICT cooperation through activities of the joint working group under India-Japan ICT comprehensive cooperation framework between the Ministry of Communications and Information Technology of India and the Ministry of Internal Affairs and Communications of Japan.

Both sides expressed satisfaction with the launch of concrete joint projects, such as green ICT and cyber security cooperation based on agreement of the first joint working group in February 2014, and reaffirmed to enhance cooperation in the field of ICT.

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