ANNOUNCEMENT 14 Sep 2018
In September 2018, the KfW IPEX-Bank announced providing financing to two Indian steel companies to support German exports.
NUMBER OF INTERVENTIONS
KfW IPEX-Bank, KfW IPEX-Bank finances German exports to India, press release of 14 September 2018: https://www.kfw-ipex-bank.de/Presse/News/News-Details_488640-2.html
On 14 September 2018, the KfW IPEX-Bank announced providing a loan in the form of a debt capital to JSW Steel Limited and its wholly-owned subsidiary JSW Steel Coated Products Limited. The loan has a total value of around EUR 110 million (approx. USD 128 million). The loan will support the export of German goods for the Indian company's project to expand its steel production capacity. More specifically, German SMS group GmbH will export pickling tandem lines and a converter steel plant whilst German Primetals Technologies will export various "supplies and services for the electrical and automation components in a hot strip mill".
In this context, KfW stated in a press release: "On the basis of its legal mandate, KfW IPEX-Bank is supporting the German export industry with these financings and is thereby contributing to the protection of jobs in Germany."