- Region: Asia
- Manufacturing and Services
- Overseas Investment Loans
October 9, 2015
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed on October 8, a loan agreement amounting up to approximately INR170 million (JBIC portion) with Nittan India Tech Private Limited (NIT), an Indian subsidiary of NITTAN VALVE CO., LTD. (NITTAN VALVE). The loan is cofinanced with private financial institutions, with a total cofinancing amount of approximately INR290 million.
This loan is intended to finance the expansion of manufacturing and sales of engine valves for four-wheel and two-wheel vehicles by NIT, through providing investment capital in local currency.
NITTAN VALVE provides engine valves, precision forgings, valve lifters, large diesel engine components, and other various products to a wide range of sectors, including automobiles. This loan is aimed at enhancing NIT's manufacturing facilities in response to the growing demand for engine valves by Japanese automobile manufacturers in India, and will lead NIT to gaining a stronger customer base as well as a larger share of the local market. Through the support of such overseas business deployment of NITTAN VALVE by local currency 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.