Loan for Manufacture and Sales of Automotive, Appliance, Commercial and Industrial Motors by Japanese Company in India
Supporting Overseas Business Deployment of Japanese Companies through JBIC's First Indian Rupee Loan
- Area: Asia
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed a loan agreement on August 5, with NIDEC INDIA PRIVATE LIMITED (NIND), a subsidiary of NIDEC CORPORATION in India. The loan is cofinanced with a private financial institution and is JBIC's first loan in Indian Rupee.
The loan is denominated in local currency, and it is intended to fund capital investment for the manufacturing and sales business of automotive, appliance, commercial and industrial motors by NIND.
NIDEC CORPORATION plans to expand its local customer base and market share in India, by establishing a production base and reducing production costs through the localization of design and in-house production in India, where demand for motors is expanding mostly from Japanese automobile parts suppliers and household appliance manufactures. Thereby, this loan contributes to maintaining and strengthening the international competitiveness of Japanese industries through its provision in local currency to support the overseas business deployment of NIDEC CORPORATION.
As Japan's policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese companies, by drawing on its various financial facilities and scheme, including loans to meet the needs of local currency funds, and performing its risk-assuming function.