- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
October 15, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed two loan agreements totaling up to USD6.3 million (JBIC portion) with Tamada Industries, Inc. (Tamada Industries; Headquarters: Ishikawa Prefecture; Representative Director and President: Yoshiaki Tamada). These loans are cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd. and The Hokkoku Bank, Ltd., with the overall cofinancing amount reaching the equivalent of USD9 million.*1
These loans will finance Tamada Industries necessary funds for TAMADA VIETNAM COMPANY LIMITED (TKV), which is Tamada Industries'wholly-owned subsidiary, to conduct the manufacturing and sales business of underground petroleum storage tanks, as well as other tanks and tank-related products.
Since its inception in 1950, Tamada Industries has been a small and medium-sized enterprise (SME) engaging in the manufacture and sales of underground petroleum storage tanks, as well as other tanks and tank-related products. In Vietnam, there is the prospect of rising demand for highly safe underground petroleum storage tanks against the backdrop of the increasing number of gas stations along with the progress in motorization and the growing environmental awareness. Tamada Industries intends to capture, through TKV that it established in February this year, some of the share of this underground tank market in Vietnam that is expected to grow in the coming years. Thus this loan will support the overseas business deployment of Tamada Industries and thereby 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, including mid-tier enterprises and SMEs in growing markets such as Vietnam, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.
- *1 Of the overall amount of the loan agreement, USD1.5 million (of which the JBIC portion accounts for USD1.05 million) was already concluded on April 25 this year. This press release released today describes the combined amounts of the loan agreement signed today, whose total cofinancing amount is USD7.5 million (of which the JBIC portion accounts for USD5.25 million), with this previous amount in order to fund the same project.