Sharp Corp., the Japanese display maker, may break ground on a $7-billion plant in the U.S. in 2017, Reuters reported.

A Sharp spokesperson reportedly told the news agency that no final decision has been made on the plant, but the report said Sharp is taking the lead on a project.

Sharp will take the lead in the joint construction of a liquid crystal display panel plant in the U.S. with Taiwan's Foxconn Technology Group, an executive at the Japanese electronics maker was reported as saying.

Japan is finalizing a package that it claims will create 700,000 jobs in the U.S. and help create a $450-billion market, Reuters reported.

On a broader basis, the two countries would cooperate in building liquefied natural gas facilities in Asia to help expand exports of U.S. natural gas and work together to expand nuclear energy-related sales.

The Japanese government's proposed public-private initiative is intended to create several hundred thousand jobs and involve $150 billion in new investment in U.S. infrastructure from Japanese government and private sources over the next decade.