AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
The overseas investment loan agreement between JBIC and Jamshedpur Continuous Annealing & Processing Company Private Limited (NSSMC) has a maximum value of USD 81 million. The company is a joint venture between the Japanese steel companies Nippon Steel & Sumitomo Metal Corporation and Tata Steel Limited.
The loan finances the joint venture company's project to set up a plant to manufacture cold-rolled steel sheets in Jamshedpur, India.
In this context, the Bank stated: "The loan will thus contribute to maintaining and improving the international competitiveness of the Japanese steel industry by supporting NSSMC's overseas business deployment.
Overseas investment loans
JBIC provides direct loans named overseas investment loans to Japanese companies, overseas affiliates or joint ventures where Japanese companies hold equity interests and governments or financial institutions partying with such overseas affiliates. Loans support projects in specific sectors or with a specific purpose of interest to Japan. Further information can be found on the Bank’s website under overseas investment loans.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.
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