Fast Market Research recommends "Japan Infrastructure Report Q2 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 06/05/2013 -- BMI View: Latest government data shows that significant progress has yet to be made on completing the reconstruction projects that arose following the March 2011 earthquake and tsunami. Although the release of a JPY13.1trn (US$147bn) stimulus package could provide some impetus in spurring reconstruction and infrastructure activity in Japan, we doubt that it would have as much of an impact on construction activity as the government expects, due to factors such as cumbersome government planning and the shortage of labour and buildings materials. Therefore, we believe that the new stimulus package would have a material impact on construction activity, but over a longer period of time than expected by the Japanese government.
Key developments in the sector:
- In November 2012, officials of the Central Japan International Airport stated that there are holding discussions with Malaysia's AirAsia regarding the construction of a budget terminal.
- In January 2013, nine of the 10 utilities in Japan announced that they will invest JPY132-141bn to augment the facilities, or frequency converter stations, for grid interconnection between East and West Japan from the current capacity of 1.2-2,1GW. With planned start of operation in FY 2020/21, the utilities are expected to start studying and designing from FY 2013/14. In January 2013, Japan's new Prime Minister, Shinzo Abe, unveiled a JPY13.1trn supplementary budget for FY2012/13, with around JPY1.6trn would be allocated to accelerate the reconstruction process in the disaster-hit Tohoku region, while around JPY1.4trn would be use for public works projects - namely infrastructure repairs and the construction of quake-resistant schools, hospitals, roads, bridges and tunnels across Japan.
- In February 2013, a committee appointed by the Japanese government released a report recommending that the country's 10 regional utilities should spin off their transmission and distribution (T&D) networks between 2018 and 2020.
- In February 2013, Japan's Nuclear Regulation Authority (NRA) stated that it was in the process to roll out new safety standards for nuclear reactors. The new standards, scheduled to become effective in July 2013, are likely to affect the resumption of reactors. The new rules are expected to ban the construction of nuclear reactors above geologic faults. The NRA appointed a panel of experts, which has drawn up safety guidelines to deal with the risk posed by earthquakes and tsunami. Another panel is working on measures against severe accidents.
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