JBIC agrees NEXI-backed loan to India's JSW Steel

The Japan Bank for International Cooperation has agreed a loan of up to $30 million to Mumbai-headquartered JSW Steel. The loan is co-financed with Mizuho Bank, bringing the total co-financing amount to approximately $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 funds for JSW Steel to purchase a complete set of facilities for a wire rod mill, used in processing of steel, from Primetals Technologies USA and Primetals Technologies India Private Limited, both subsidiaries of Primetals Technologies in the UK, a joint venture of Siemens AG in Germany, Mitsubishi Heavy Industries and Partners.