Japan and U.S. agree first Strategic Investment Initiative projects

The Japanese government announced agreement with the U.S. government on the first-tranche projects under the Strategic Investment Initiative.

• Main announcement: Japan and the United States agreed to advance three projects in the United States as the first tranche under the Strategic Investment Initiative: (1) industrial synthetic diamond manufacturing for automotive/aerospace/semiconductor parts (estimated total: about $600 million / ¥90 billion), (2) U.S. crude oil export infrastructure (estimated total: about $2.1 billion / ¥330 billion), and (3) a gas-fired power project to supply electricity to AI data centers (estimated total: about $33.3 billion / ¥5.2 trillion).
• Background and details: The announcement lists Japanese firms expressing interest in equipment and component supply (examples: Asahi Diamond Industrial, Noritake, Mitsui O.S.K. Lines, Nippon Steel, JFE Steel, Mitsui Ocean Development & Engineering, Toshiba, Hitachi, Mitsubishi Electric, SoftBank Group). It also names SMEs (Tashiro, Kaneda Corporation, Works, Orol, Miwa Electric, Asahi Plating) interested in supplying parts or processing. The statement says further detail coordination and implementation timelines will be arranged bilaterally to enable early and smooth project execution.