JBIC concluded a loan agreement with Nittan India Tech Private Limited (NIT), an Indian subsidiary of NITTAN VALVE CO., LTD. (NITTAN VALVE). This loan is intended to finance the expansion of manufacturing and sales of engine valves for four-wheel and two-wheel vehicles by NIT, through providing investment capital in the local currency (Indian rupee).
NITTAN VALVE provides engine valves, precision forgings and a various products to a wide range of sectors, including automobiles. This loan is aimed at enhancing NIT's manufacturing facilities in response to the growing demand for engine valves by Japanese automobile manufacturers in India, and will lead NIT to gaining a stronger customer base as well as a larger share of the local market. This local currency loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries.