People familiar with the matter said work is in full swing in Japan-led development of a coastal economic corridor in Bangladesh, which includes a power plant, port and corporate parks. This is being seen as Tokyos effort to balance Chinas influence in the region. The Japanese projects will connect landlocked north-eastern India with the Bay of Bengal and simultaneously tap into the local markets. China, meanwhile, is eyeing a permanent presence in the Bay of Bengal via Bangladesh and Myanmar.