Loan for the Manufacturing and Sales Business of Large-diameter Welded Steel Pipes in Abu Dhabi
Supporting overseas business deployment by Japanese companies

  • Area: The Middle East
  • Manufacturing and Services

JBIC concluded a loan with Al Gharbia Pipe Company LLC (AGPC), an Abu Dhabi, UAE company. The loan is intended to finance the manufacturing and sales of large-diameter welded steel pipes for oil/gas pipelines by AGPC, a joint venture company owned by JFE Steel Corporation (JFE), Marubeni-Itochu Steel Inc. (MISI) and a UAE company. The Middle East region is the world's largest producing area for oil and gas, in which a stable demand for high grade pipes for delivery of oil and gas is expected. JFE and MISI aim to enhance their ability to respond to customer needs in the Middle East region, as well as to maintain cost competitiveness, by producing high-quality steel pipes for pipelines locally through the joint venture.
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