Tokyo Gas and China National Offshore Oil Corporation both partnered with Filipino companies to compete for the building of the Philippines' first liquefied natural gas terminal. Though Japan and China's leaders agreed to jointly advance third-country infrastructure projects, companies have not been able to shift from competition to collaboration in the field, reports the Nikkei Asian Review.
Data shows that between 2014 and 2017, the cumulative value of construction contracts has been 50 percent higher for Belt and Road projects, at $230 billion, than for unrelated deals, which amounted to $148 billion, reports the Nikkei Asian Review.
The power generating arm of Thailand's oldest industrial group, B. Grimm, has issued 5 billion baht ($152 million) in "green bonds" to raise funds for further investment in its renewable energy business, reports the Nikkei Asian Review.
East Japan Railway unveiled a cutting-edge shinkansen bullet train that is expected to slash the travel time between Tokyo and Sapporo by nearly 40 percent when the route goes into service in 2030.
China and the West have been vying for infrastructure projects in Bougainville, an autonomous region in Papua New Guinea, in an escalating battle for influence in the South Pacific, reports the Nikkei Asian Review.
Indonesian state-owned oil and gas company Pertamina announced the signing of a $4 billion contract with two South Korean firms for a major upgrade of the Balikpapan refinery in East Kalimantan province, one of six mega refinery projects aimed at increasing Indonesia's fuel production capacity and reducing reliance on imports.
Thailand will spend more than $25 billion to build a high-speed rail network in a bid to transform the country into a regional rail hub. The Bang Sue Grand Station in Bangkok, when completed in 2020, is expected be Southeast Asia's biggest station with a capacity of serving 400,000 passengers daily.
Indian cities are vastly expanding their subway networks to reduce road congestion and gasoline consumption. The Delhi Metro is expected to reach 378 kilometers of track this year, catching up with New York--the world's fourth-largest subway system.
Japan's government has decided to spend over $26.5 billion on infrastructure repairs through March 2021 after identifying 132 existing infrastructure problems at airports, along rivers, at hospitals and with the power grid.
Japan's Kawasaki Heavy Industries has created a floating, gas-fired power plant that it hopes to sell to power companies in rapidly growing economies in Asia and as an emergency source of power in areas hit by natural disasters where infrastructure remains underdeveloped, reports the Nikkei Asian Review.
Saudi Crown Prince Mohammed bin Salman told Indian prime minister Narendra Modi at the G20 summit that he will soon be finalizing an initial investment in India's National Investment and Infrastructure Fund to help accelerate the building of ports, highways and other projects, reports the Nikkei Asian Review.
South and North Korea will launch a field study on Friday to relink railways cut since the 1950-53 Korean conflict, after the U.N. Security Council granted sanctions exemptions last week, reports the Nikkei Asian Review.
Multiple companies have expressed interest in bidding for the $1.7 billion worth of contracts to expand the Map Thaput port into a major deep sea port -- part of a larger infrastructure drive to create a huge economic and business center in the east of the country.
South Korea has received sanctions exemption from the United Nations Security Council for a joint survey of inter-Korean railways, the first step towards reconnecting rail and road links of the two Koreas since the 1950-53 Korean War.
The European Bank for Reconstruction and Development is seeking to co-finance more projects in Central Asia and elsewhere with the China-backed Asian Infrastructure Investment Bank. The two organizations have co-financed two projects in the infrastructure and energy sectors and have 25 more joint projects in the pipeline.
China agreed to fund the $365 million Kaliwa dam and take part in the $3.3 billion southern Luzon railway project in the Philippines. A memorandum of understanding on oil and gas exploration was also signed between the two countries.
China and the Philippines are expected to sign billions of dollars worth of Belt and Road deals on Tuesday, as the United States and the Philippines move forward on key issues including free trade talks, reports the Nikkei Asian Review.
Indonesia's vice presidential candidate Sandiaga Uno said on Tuesday that the government will review the Chinese-led construction of a high-speed rail line connecting Jakarta and the city of Bandung, if the opposition wins Indonesia's presidential election next year.
Five years into China’s massive Belt and Road Initiative, the United States is trying to respond to Xi Jinping’s infrastructure-building spree. In an interview with The Wall Street Journal, Reconnecting Asia Director Jonathan Hillman discusses the craving for more alternatives to Chinese offers and the window of opportunity it creates for the United States.
On November 14, the U.S.-China Economic and Security Review Commission, a body created by Congress to monitor and investigate national security and trade issues between the United States and China, published its 2018 Annual Report. Reconnecting Asia’s data and analysis are used to help discern China’s objectives for the Belt and Road Initiative and to highlight potential challenges and opportunities for the United States.
Japan and several other members of the Asia-Pacific Economic Cooperation forum will propose updating the "APEC Guidebook on Quality of Infrastructure Development and Investment" to include new rules that take into consideration the financial sustainability and transparency of infrastructure debt.
China Railway Construction will join a consortium led by Charoen Pokphand Group (CP Group) to bid for the construction of Thailand's $7 billion high-speed railway project that will link three major airports.
Australia will set up a $1.46 billion infrastructure fund for projects in the Pacific as the country looks to curb China's rising influence across the strategically important islands, reports the Nikkei Asian Review.
Chinese automaker Zhejiang Geely Holding Group signed an agreement with China Aerospace Science and Industry Corp (CASIC) to jointly develop "supersonic" trains in the country with a maximum speed of 620 mph.
Japan will send experts from Kyushu Railway Co. and Japan Freight Railway Co. to Malaysia later in the month to study ways to improve the country's railway transportation system.
China is starting to build its largest offshore wind-power facility in the latest move in an accelerating shift in Asia away from solar to wind and other renewable energy sources.
Laos is accepting more Chinese loans to build 50 hydropower dams by 2025 and is increasing its external debt, half of which is owed to China.
As he heads for a face-to-face meeting with Chinese President Xi Jinping, Pakistan's Prime Minister Imran Khan is reportedly planning to renegotiate CPEC and to make it align more with Pakistan's interests, reports the Nikkei Asian Review.
The Thai government has approved four infrastructure megaprojects, worth a combined $14 billion, in an effort to rev up new investment in the country's Eastern Economic Corridor.
Japanese Prime Minister Shinzo Abe and Indian counterpart Narendra Modi agreed to collaborate on infrastructure, such as port and road projects in third countries like Sri Lanka, Myanmar, and Bangladesh.
Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping agreed to accelerate cooperation on overseas infrastructure projects and finance as a symbol of their revamped ties.
Malaysia has allowed Gamuda and MMC Corp. to resume underground works of the Mass Rail Transit 2 project after their joint venture agreed to a deeper cost cut, underscoring the government's resolve to push ahead with initiatives which only make economic sense.
Singapore's central bank announced the start of a new program that will provide Asian emerging nations banking and legal services for infrastructure projects like roads, harbors, airports, railroads, and power stations. This program aims to make the city-state a key player in contracts related to China's Belt and Road Initiative.
Japan plans to stop offering development aid to China after nearly 40 years, seeking instead to establish a framework for the two countries to cooperate as equal partners on infrastructure and other projects in developing countries.
The world's longest sea-crossing bridge, connecting mainland China and Macau with Hong Kong, is set to open on Wednesday, giving Chinese President Xi Jinping a centerpiece for his vision of a "Greater Bay Area" economic zone, reports the Nikkei Asian Review.
Japan drafted a plan to offer greater assistance for infrastructure development overseas ahead of a key summit with China next week, as it prepares to pursue joint projects with Beijing in third countries, reports the Nikkei Asian Review.
The Japan Bank for International Cooperation and the European Investment Bank will collaborate to extend loans for infrastructure projects in the Middle East and Africa, in an apparent effort to offer an alternative model to China's Belt and Road Initiative and U.S. protectionism, reports the Nikkei Asian Review.
A recently opened express railway between Hong Kong and mainland China has drastically cut travel times, but has experienced less demand in commuters and tourists as initially anticipated, reports the Nikkei Asian Review.
Pakistan has formally asked the International Monetary Fund for financial assistance amid pressure to meet external debt obligations, reports the Nikkei Asian Review. IMF help will require absolute transparency on the nature, size, and terms of the country's debt, including its BRI investment from China.
Vietnam National Shipping Lines, the state-owned marine transporter known as Vinalines, won approval recently to build two large container terminals at Lach Huyen International Gateway Port in a $302 million project.
The leaders of Japan and five Southeast Asian countries agreed to adopt a new policy that pushes forward more than 150 projects in the Mekong region using official development assistance from Japan.
With the approval of Congress, the U.S. moves forward with a $60 billion investment fund to boost foreign development funding. According to the Nikkei Asian Review, this is an effort to counter China's expanding influence under the BRI.
The U.S. Senate passed legislation overhauling the way the federal government lends money for foreign development, creating a $60 billion agency intended largely to respond to China's growing influence, according to the Nikkei Asian Review.
India's largest infrastructure financing company, Infrastructure Leasing & Financial Services, was recently taken over by a government-backed board to address a series of loan defaults that raises questions over the country's infrastructure development.
Saudi Arabia has shelved a $200 billion plan to build a 200GW solar farm with Japan's SoftBank Group.
Myanmar and China renegotiated a BRI contract for the construction of Kyaukpyu deep-sea port, reducing Myanmar's financial burden. Construction will not proceed before certain demand conditions are met, according to the Nikkei Asian Review
Japan’s Nippon Express will begin offering regular freight train shipping between China and Europe in February, as China’s Belt and Road Initiative accelerates the transfer of goods between the two markets, reports the Nikkei Asian Review.
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.
Maldivians voted out incumbent President Yameen, an early supporter of Beijing's Belt and Road Initiative who accepted funding for bridges, housing and other infrastructure projects.