Japan Investing in Green Industries

Govt sets 110 bil. yen aside to aid green industry

Dec. 28, 2010 - 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. {continued}