SoftBank Group (TYO:9984) is leading a consortium to develop a $33 billion gas-fired power facility in the US, marking one of the first initiatives stemming from last year's Japan-US trade agreement, Nikkei Asia reported on Wednesday, citing unnamed sources.

The project represents one of the first three ventures linked to Tokyo's $550 billion commitment to invest in the American market, which was established as part of the July trade pact.

Under this arrangement, Japan pledged financing and loan guarantees in return for the US reducing reciprocal and sector-specific tariffs to 15%.

Upon completion in Ohio, the facility will generate 9.2 gigawatts of electricity, making it among America's largest, US Commerce Secretary Howard Lutnick said Tuesday.

SoftBank Group did not immediately respond to a request for comment from MT Newswires.

Separately on Wednesday, Bloomberg reported, citing Japanese Trade Minister Ryosei Akazawa that other Japanese firms, including Toshiba and Hitachi (TYO:6501), have shown interest in joining the gas project.

Additionally, Akazawa said companies including Mitsui OSK Lines (TYO:9104), Nippon Steel (TYO:5401), and JFE (TYO:5411) are keen to supply a crude oil export facility, while Asahi Diamond Industrial (TYO:6140) and Noritake (TYO:5331) are interested in sourcing from a synthetic diamond plant.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)