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Japan: Govt Sets 110 Bil. Yen Aside to Aid Green Industry |
| Source: |
yomiuri.co.jp |
| Source Date: |
Tuesday, December 28, 2010 |
| Focus: |
Electronic and Mobile Government, Citizen Engagement, Internet Governance
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| Country: |
Japan |
| Created: |
Jan 04, 2011 |
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The trade ministry will offer subsidies totaling 110 billion yen to 153 capital investment projects to assist companies in building plants to manufacture lithium-ion batteries, light-emitting diodes and other products to help reduce greenhouse gas emissions.
The total capital investment projects by companies are worth about 530 billion yen and they are expected to create about 95,000 jobs, the Economy, Trade and Industry Ministry announced Monday.
The subsidies will be provided under the government's project to promote low-carbon industries and help create jobs. The project was announced as part of the government's emergency economic stimulus package using reserve funds from the fiscal 2010 budget. A total of 285 capital investment projects applied for the subsidies.
Companies are planning to build plants in Tokyo and other 37 prefectures as part of the program.
In Kameyama, Mie Prefecture, Sharp Corp. plans to build a new production line to manufacture power-saving liquid crystal display panels, which will be used for smartphones.
NEC Corp. plans to set up a plant to make parts to be used for lithium-ion batteries in Sagamihara, Kanagawa Prefecture.
The government will subsidize up to a half of capital investment in a project, capped at 15 billion yen, on condition that companies will create jobs.
The subsidy program for capital investment in environmental fields is the second of its kind. The ministry previously provided similar subsidies under the fiscal 2009 second supplementary budget.
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Japan: Govt Sets 110 Bil. Yen Aside to Aid Green Industry The trade ministry will offer subsidies totaling 110 billion yen to 153 capital investment projects to assist companies in building plants to manufacture lithium-ion batteries light-emitting diodes and other products to help reduce greenhouse gas emissions
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