JBIC signed a buyer's credit*1 agreement with the Government of Turkmenistan. This loan will finance the State Concern "Turkmenhimiya," Turkmenistan's state-owned chemical company to purchase a complete set of plant facility from Mitsui Engineering & Shipbuilding Co., Ltd., as it builds a new sulfuric acid production plant. With this loan, it is planned that sulfuric acid produced in this plant by making effective use of the sulfur contained substantially in the natural gas produced in the country will be used as a raw material for fertilizer. This is expected to contribute to developing the agricultural sector in Turkmenistan. This loan will also lead to creating business opportunities for Japanese companies in Turkmenistan's oil and gas sector.
- *1A buyer's credit is a loan JBIC directly extends to a foreign importer (buyer) to finance its import of machinery, equipment or services from a Japanese company.