Indian Rupee Loan for Automotive Parts Manufacturing and Sales Business of Japanese Company in India
Supporting Overseas Business Deployment of Japanese Automotive Parts Industry with Local Currency Loan
- Area: Asia
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed on December 1 a loan agreement amounting up to INR93.6 million (JBIC portion) with Moriroku Technology India Pvt. Ltd. (MTI), an Indian subsidiary of MORIROKU HOLDINGS COMPANY, LTD. (MORIROKU). The loan is cofinanced with private financial institutions.
This loan is intended to finance the automotive parts manufacturing and sales business conducted by MTI. The funds will be used for the construction of a second factory.
Moriroku Group manufactures and sells interior and exterior resin parts for four-wheeled vehicles, such as instrument panels, lower skirts, and front grilles. This loan is aimed at reinforcing MTI's manufacturing base in order to meet the expanding demand from Japanese automobile manufacturers in India, and will lead to increasing the company's local production capacity and market share. Through the support of such overseas business deployment of MORIROKU by Indian rupee loan, this financing will contribute to maintaining and strengthening the international competitiveness of Japanese industries.
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 schemes, including loans to meet the need for local currency funding, for structuring projects and performing its risk-assuming function.