- Region: Asia
- Environment
- Manufacturing and Services
- Overseas Investment Loans
-
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a loan agreement amounting up to USD 276 million (JBIC portion) with Kajima Myanmar Holding Pte. Ltd. (KMH) in Singapore, which is invested in by Kajima Corporation (Kajima) together with the Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN). The loan is co-financed with Sumitomo Mitsui Banking Corporation and MUFG Bank, Ltd.. The loan is extended under JBIC’s Growth Investment Facility*1/ QI-ESG Window.
-
This loan is intended to finance the real estate complex development project by Kajima Yankin PPP Co., Ltd.(KYP), a subsidiary of KMH in Myanmar. The project, consisting of a hotel, long-term stay hotels, offices, and commercial facilities, is planned in Yankin Township, Yangon, Myanmar.
-
Identifying “increase of profitability in the real estate business” as one of the key pillars of the strategies in its Medium-Term Business Plan (FY 2018-2020), Kajima promotes development in line with the needs of each overseas market. Through this project, Kajima will develop and operate a real estate complex that meets Japanese standards with the aim of increasing its know-how and profit in the overseas real estate field. This project will support the overseas business expansion of Kajima, and will thereby contribute to maintaining and increasing the international competitiveness of Japanese industries. In addition, this project will incorporate a Building Energy Management System (BEMS) which is installed in the most modern buildings in Japan, while adopting a high-performance facade*2, insulating glass and natural ventilation through atrium space*3. This project will thus contribute to global environment preservation through the efficient use of energy.
-
In order to capture the enormous demand for infrastructure in the world for Japan's economic growth, the government of Japan has been promoting measures for overseas business development that make use of the technology and know-how of Japanese companies under its Export Strategy for Infrastructure System. This project is one of the projects mentioned in the Action Plan for the Overseas Development of Infrastructure System 2019 formulated by the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) in March 2019 based on this strategy.
-
As Japan’s policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese companies in growing markets such as Myanmar, by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function.
Note
- *1
- *2
- *3