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The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a loan agreement amounting to up to JPY16.5 billion (JBIC portion) with Taiheiyo Cement Corporation (Taiheiyo Cement). The loan is co-financed with private financial institutions, bringing the total co-financing amount to JPY27.5 billion.
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The loan is intended to finance the funds necessary for Taiheiyo Cement Philippines, Inc. (TCPI), a Philippine subsidiary of Taiheiyo Cement, to renovate the manufacturing equipment for its cement manufacturing business.
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Taiheiyo Cement regards TCPI as an important production base for its overseas cement business and it aims to further increase its production capacity by enhancing the equipment. The loan will support Taiheiyo Cement’s overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
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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.
