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JBIC Signs USD 30 Million Loan to JSW Steel for Wire Rod Mill

Steel News - Published on Mon, 13 Jan 2020

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The Japan Bank for International Cooperation signed on January 9 an individual buyer's credit agreement amounting up to approximately USD 30 million JBIC portion, based on the export credit line established in March 2018. The loan is co-financed with Mizuho Bank Ltd, bringing the total co-financing amount to approximately USD 49 million. Nippon Export and Investment Insurance will provide insurance to cover the portion being co-financed by the public-sector financial institution. This loan is intended to provide the necessary funds for JSW Steel to purchase a complete set of facilities for a wire rod mill from Primetals Technologies USA LLC and Primetals Technologies India Private Limited, both subsidiaries of Primetals Technologies Ltd in the United Kingdom, a joint venture of Siemens AG in Germany, Mitsubishi Heavy Industries and Partners.

This loan supports Japanese companies to further expand export of machinery and equipment by meeting the investment needs of JSW Steel in a timely and flexible manner, contributing to maintaining and increasing the international competitiveness of Japanese industries.

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Posted By : Rabi Wangkhem on Mon, 13 Jan 2020
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