Loan for Processed Agricultural Products Business of HOUSE FOODS GROUP in Indonesia
Supporting Overseas Business Expansion of Japanese Company
- Region: Asia
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a loan agreement amounting to up to USD900,000 (JBIC portion) with PT. JAVA AGRITECH (JAT), an Indonesian subsidiary of VOX TRADING CO., LTD., which is a subsidiary of HOUSE FOODS GROUP INC. (HOUSE FOODS GROUP). The loan is co-financed with Resona Bank, Limited, bringing the total co-financing amount to USD1.5 million.
The loan is intended to provide the funds required by JAT to conduct business in processed agricultural products including wasabi and spices and in the manufacture of foods such as halal curry in Indonesia.
HOUSE FOODS GROUP regards JAT as an important production base in the ASEAN region and aims to further increase its production capacity by enhancing its equipment and machinery. The loan will support HOUSE FOODS GROUP'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.