Japan to subsidize undersea cable vessels over ‘very serious’ national security concerns — will front up to half the cost for $300 million vessels bought by NEC

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Japanese officials are set to offer subsidies to NEC, one of the country’s biggest tech companies, to purchase cable-laying ships capable of traversing oceans. According to the Financial Times, Tokyo is willing to cover as much as half of the acquisition cost of these vessels. With each ship estimated to cost around $300 million, Japan is seemingly ready to spend half a billion dollars or more to allow NEC to have unfettered access to its own cable-laying vessels, a matter the government now considers…



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Japan to subsidize undersea cable vessels over ‘very serious’ national security concerns — will front up to half the cost for $300 million vessels bought by NEC



Japanese officials are set to offer subsidies to NEC, one of the country’s biggest tech companies, to purchase cable-laying ships capable of traversing oceans. According to the Financial Times, Tokyo is willing to cover as much as half of the acquisition cost of these vessels. With each ship estimated to cost around $300 million, Japan is seemingly ready to spend half a billion dollars or more to allow NEC to have unfettered access to its own cable-laying vessels, a matter the government now considers…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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