The news was there on Yomiuri Shinbun on January 5, 2012, the Japanese government is to build a city in Chennai, India for 50,000 people, with infrastructure including seaside resort, industrial park, hospital, shopping mall, and golf course catering to Japanese tastes.
The residential area will be 2 square kilometers with the expensive condominiums facing the Indian Ocean will be developed starting 2013.
Many speculate this is a plan by the Japan's political and business elites to abandon ship (Japan), and the reason for the government's insistence on a tax hike despite the recession.
Japan has been busy distributing money in Asia. The Bank of Japan has just opened multi-billion dollar currency swap lines with India ($15 billion).
The developer for the whole project is a Singaporean real estate developer Ascendas.
The Times of India reports on January 11, 2012 the Tamil Nadu government has signed a memorandum of understanding with a Japanese investor group and Ascendas to build a "Japan Town" in Chennai, India:
The residential area will be 2 square kilometers with the expensive condominiums facing the Indian Ocean will be developed starting 2013.
Many speculate this is a plan by the Japan's political and business elites to abandon ship (Japan), and the reason for the government's insistence on a tax hike despite the recession.
Japan has been busy distributing money in Asia. The Bank of Japan has just opened multi-billion dollar currency swap lines with India ($15 billion).
The developer for the whole project is a Singaporean real estate developer Ascendas.
The Times of India reports on January 11, 2012 the Tamil Nadu government has signed a memorandum of understanding with a Japanese investor group and Ascendas to build a "Japan Town" in Chennai, India: