India / credit line for JSW Steel Limited

Nippon Export and Investment Insurance (NEXI) has approved credit line for JSW Steel Limited of India to support its purchase of Japanese equipment and service.

JSW Steel Limited and Japan Bank for International Cooperation (JBIC) agreed on May 29 on credit line worth up to USD 50 million and JPY 5 billion. NEXI will cover the co-financing portion provided by commercial banks (up to USD 20 million and JPY 2 billion respectively).

JSW Steel Ltd. is one of the largest steel manufacturing companies in India. JFE Steel of Japan holds 15% equity interest in JSW Steel Limited. To meet growing demand for steel products expected in India driven by continued economic growth, more demand for high quality Japanese Steel manufacturing plant is expected.

Through the provision of the insurance, NEXI supports Japanese firms' export, helps to create business opportunities for Japanese industries, and consequently contributes to maintaining and improving their international competitiveness.