A Japan-led consortium is set to abandon a Turkish nuclear power project that had been touted as a model for Tokyo's export of infrastructure. The delayed project's construction costs have doubled to around $44 billion, making it difficult for lead builder Mitsubishi Heavy Industries and its partners to continue with the plans.
China and Japan announced plans to sign dozens of agreements on infrastructure and other projects when Japanese prime minister Shinzo Abe visits China next month.
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Asia and the Pacific have made great strides in deveopment over the past 50 years, however much remains to be done. Issues such as poverty and vulnerability, rising inequality, climate change, growing environmental pressures, and large infrastructure deficits remain to be addressed while merging trends, such as technological advancements, urbanization, and changing demographics, present opportunities and challenges
Vietnamese president Tran Dai Quang said he expects Japan will help Vietnam improve the quality of his country's infrastructure through the use of private funds, public-private partnerships, and build-operate-transfer schemes.
Japan's infrastructure export ambitions face an uncertain future following a move by Japanese trading house Itochu to pull funding for the construction of a nuclear power plant in Turkey. Itochu's departure was driven by a sharp increase in safety-related costs following the Fukushima nuclear disaster, which caused the estimated total project cost to balloon from two to five trillion yen.
Quotes and Quotas is a digest of phrases and facts that help explain Asia’s infrastructure push.
India plans to build up to 100 more airports to accommodate one billion passengers by 2035, and the government will count on private financing to cover most of the $60 billion cost.
Private investment is not enough to close Asia's infrastructure gap and public funding is crucial to tackle the continent’s infrastructure shortages, according to Tokyo-based journalist Anthony Rowley.
Several Chinese local infrastructure projects have been canceled or suspended due to concerns over project viability.
Reconnecting Asia is tracking developments across a vast landmass that includes 60 percent of the global economy. Every day, new infrastructure projects are announced, some are advanced, and others encounter obstacles. Here is a selection of the top projects to watch in 2018.
Japan has received preferential negotiating rights from the government of Bangladesh to build highways under an exclusive arrangement.
China canceled nearly 1,000 projects amid greater scrutiny of public-private partnerships, in addition to stronger environmental regulations and real estate purchasing limits.
State-owned enterprises are shouldering much of the risk for the $355 billion infrastructure drive in Indonesia.
Vietnam signs the contract on Wednesday to develop a coal-fired power plant, the first time the country has turned to private companies to finance infrastructure.
Indonesian President Joko Widodo is seeking to fund 247 infrastructure projects worth $355 billion b
Financial engineering is driven by new approaches to old problems, as the surprising success of green bonds and social or development impact bonds has shown us. Hopefully, the time of the kicker bond for infrastructure has arrived.
The challenge today for multilateral development banks is not how to mobilize excess savings but how to catalyze abundant capital for development.