The first fruits of a promised $550 billion investment agreement between the US and Japan are already tainted with pollution.

A unit of SoftBank Group Corp. will invest $33 billion in a natural gas power station in Ohio that would be the world’s biggest non-renewable power station. Another $2.1 billion will be spent on a crude oil export terminal. The two projects are the main elements in the first tranche of a deal intended to reduce tariffs on Japanese imports from 25% to 15% in return for investments in the US.

© Bloomberg