Loan for the Manufacturing and Sales Business of Automotive Steel Sheets
Supporting Japanese steel industry's overseas business deployment

  • Area: Asia
  • Manufacturing and Services

JBIC concluded a loan agreement with PT Krakatau Nippon Steel Sumikin (KNSS), an Indonesian subsidiary of NIPPON STEEL & SUMITOMO METAL CORPORATION (NSSMC). This loan is intended to provide the necessary funds for the manufacturing and sales of cold-rolled, hot-dip galvanized, and galvannealed steel sheets for automobiles (production capacity: 480 thousand tons/year) conducted by KNSS, which was jointly established by NSSMC and a state-owned Indonesian steel manufacturing company, PT KRAKATAU STEEL (Persero) Tbk. The Indonesian automobile market is expected to continue growing backed by the country's economic growth. NSSMC aims to respond promptly and appropriately to the needs of its customers in Indonesia by setting up a state-of-the-art automotive steel sheet production line and producing locally through KNSS.
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