Sendai city in Japan's Miyagi prefecture has drawn up a $750-million plan to relocate about 1,700 households in the tsunami-stricken communities to higher ground inland.
The collective relocation will be the largest so far in a government-sponsored program to help rebuild tsunami-hit communities, Japan's public broadcaster NHK reported on Friday.
Coastal areas in the city's Miyagino and Wakabayashi wards were devastated in the March, 2011 quake-triggered tsunami in which nearly 20,000 people were dead or missing, besides wreaking havoc in Japan's northeast.
The city decided to compile a detailed plan for the relocation of about 1,700 households in those areas. For those who want to build houses of their own, the city plans to offer plots of land at more than ten locations inland.
The plan will be submitted to the central government for approval later this month, and it hopes that construction can begin in the coming autumn and be finished at the end of 2015.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.