IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 05 Jul 2011 | Removal date: open ended
Still in force

Financial assistance in foreign market

The overseas investment loan agreement between JBIC and the Philippine company Taganito HPAL Nickel Corporation has a maximum value of USD 750.166 million. The Japanese company Sumitomo Metal Mining Co., Ltd, MBAPR Holdings Corporation (a wholly-owned subsidiary of the Japanese company Mitsui & Co., Ltd) and Philippine Nickel Asia Corporation hold equity stakes in Taganito HPAL Nickel Corporation.

The loan finances "a nickel/cobalt mixed sulfide (MS) production project" undertaken by Taganito HPAL Nickel Corporation. This project is estimated to produce approximately 50,000 tonne of nickel/cobalt MS (a specific intermediary product produced in the nickel smelting process) annually. Notably, JBIC again supported this project in February 2013, see related measure.

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.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

414 Copper, nickel, aluminium, alumina, lead, zinc & tin, unwrought
7501 Nickel mattes, nickel oxide sinters and other intermediate products of nickel metallurgy.
750120 Nickel oxide sinters and other intermediate products of nickel metallurgy
416 Other non-ferrous metals, cerments & articles thereos
8105 Cobalt mattes and other intermediate products of cobalt metallurgy; cobalt and articles thereof, including waste and scrap.
810520 Cobalt mattes and other intermediate products of cobalt metallurgy; unwrought cobalt; powders

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