Loan for Cold Rolled Steel Sheets and Surface Processed Steel Sheets Manufacturing and Sales Business of Toyo Kohan’s Turkish Affiliate
Supporting Overseas Business Expansion of Japanese Company
- Region: The Middle East
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on March 16 a loan agreement amounting to up to USD29.4 million (JBIC portion) with Tosyali Toyo Celik Anonim Sirketi (T&T), a joint venture established by Toyo Kohan Co., Ltd. (Toyo Kohan) and Tosyali Holding A.S., a Turkish company. The loan is co-financed with Sumitomo Mitsui Banking Corporation, bringing the total co-financing amount to USD49 million.
The loan is intended to provide the funds required by T&T to conduct the business of manufacturing and sales of cold rolled steel sheets and surface treated steel sheets in Turkey.
In 2012, as a member of Toyo Seikan Group Holdings, Ltd., Toyo Kohan entered the steel sheet-related market in Turkey, where the demand for cold rolled steel sheets and surface processed steel sheets is expected to grow, by establishing T&T as a local affiliate. The loan will support Toyo Kohan’s overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
As Japan’s policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the overseas expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.