Loan for Expansion of Oil Sands Development in Canada
Supporting oil sands development invested by Japanese companies
- Area: North America
- Energy and Natural Resources
JBIC signed a loan agreement with Japan Canada Oil Sands Limited (JACOS) to finance the expanded development and production of oil sands in the Hangingstone Mine in Canada. JACOS, which holds a 75% interest in this mine, is a wholly owned subsidiary of Canada Oil Sands Co. Ltd., in which Japan Petroleum Exploration Co., Ltd. holds majority equity stakes. The loan will contribute to securing a stable supply of important natural resources for Japan, while the experience and know-how in oil sands development gained from this project will increase the potential for future development of neighboring oil sands mines, and further expand the business deployment of Japanese companies.