US And Japanese Infrastructure Firms To Co-Operate On Overseas Projects.
Legal News & Analysis - Asia Pacific - Japan - Energy & Project Finance - FDI
24 December, 2018
US infrastructure firm AECOM and Japanese engineering consulting firm OCG have signed an agreement to collaborate on infrastructure projects across Asia.
An AECOM statement said that the companies will focus on "social, environmental and transit infrastructure" jobs, and the agreement will allow for joint financial and resourcing arrangements to compete for the largest and most complex infrastructure projects in the region.
The statement said that the partnership between the US and Japan for infrastructure investment in third countries would "address development challenges, increase connectivity, and promote economic growth in the Asia-Pacific region".
AECOM is a Los Angeles-based integrated infrastructure firm while OCG provides offers consulting services to support the completion of various projects in a range of situations. AECOM announced last month that it would cease activities in 30 countries to improve profits and lower risks.
Japan is expanding its efforts on infrastructure projects in third countries. Earlier in October Japan and China agreed to create a "new framework" to facilitate cooperation between the two when looking to back infrastructure projects abroad. They backed over 50 infrastructure projects in third nations, agreeing to invest more than $18 billion.
Dispute resolution specialist I-Ching Tseng of Pinsent Masons, the law firm behind Outlaw.com, said: "The continuous strengthening of international partnerships for international infrastructure projects, both on a government to government level, and as a private partnership, not only work to deepen trust between the parties involved, but strengthen cooperation, joint development and economic activities in the region."
This article was published in Out-law here.
For further information, please contact:
I-Ching Tseng, Pinsent Masons