Trump Unveils 36-B.-Dlr, 1st-Phase Japanese Investment

Washington, Feb. 17 (Jiji Press)–U.S. President Donald Trump revealed Tuesday that Japan will invest 36 billion dollars in three energy and mineral projects in the United States in the first-round execution of its 550-billion-dollar investment commitment. “Today, I am pleased to announce three TREMENDOUS Projects in the Strategic Areas of” oil and gas in Texas, power generation in Ohio, and critical minerals in Georgia, Trump said in his Truth Social post. The gas-fired thermal power plant will be the largest in history, the oil facility in “the Gulf of America” will drive exports, and the critical minerals facility will end U.S. dependence on foreign sources, he noted. Japanese Prime Minister Sanae Takaichi said in her post on X that Japan-U.S. cooperation in establishing supply chains will make the two countries’ ties stronger and that the agreed investment projects “will help promote mutual benefits.” Takaichi further pointed out that Japanese companies, acting as facility and equipment suppliers, can capitalize on the projects to expand their sales and businesses. According to the Japanese and U.S. governments, 33.3 billion dollars will be poured into the joint development of a 9.2-gigawatt gas-fired thermal power plant in Ohio, 2.1 billion dollars into a deepwater crude oil export facility to be built in the Gulf of Mexico and 600 million dollars into the manufacturing of synthetic diamonds, critical for the production of advanced products such as semiconductors. Among Japanese firms, SoftBank Group Corp. and Toshiba Corp. are interested in the gas power plant project and Mitsui O.S.K. Lines Ltd. and Nippon Steel Corp. in the oil export project, people familiar with the matter said. The Trump administration expects the oil project to generate 20 billion to 30 billion dollars in U.S. crude oil exports each year, and it aims to beef up production capacity of synthetic diamond grits to fully meet domestic demand for them, according to Commerce Secretary Howard Lutnick. “Japan is providing the capital. The infrastructure is being built in the United States. The proceeds are structured so Japan earns its return, and America gains strategic assets, expanded industrial capacity, and strengthened energy dominance,” Lutnick said on his X post. “This is a very exciting and HISTORIC time for the United States of America and Japan,” Trump said, hailing the just-concluded investment pact as “part of our Historic Trade deal to REVITALIZE the American Industrial Base, create HUNDREDS OF THOUSANDS of GREAT American Jobs, and strengthen our National and Economic Security like never before.” The announcement of the initial investment projects was made after Japanese trade minister Ryosei Akazawa told a press conference in Washington on Thursday that the gap remained wide open in negotiations he had with Lutnick that day. END [Copyright The Jiji Press, Ltd.]