Loan for Tempa Rossa project by Italian Subsidiary of Mitsui & Co.
Contributing toward Securing Energy Resources for Japan
- Region: Europe
- Energy and Natural Resources
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed today a loan agreement amounting to up to USD180 million (JBIC portion) with Mitsui & Co., Ltd. (MITSUI). The loan is co-financed with a private financial institution, bringing the total co-financing amount to approximately USD301 million.
The loan is intended to provide the funds required for Mitsui E&P Italia A S.r.l. (MEPIT), which is an Italian company invested in by MITSUI and which holds interests in the Tempa Rossa oil field development project (the project). In November 2013, JBIC signed a loan agreement with MEPIT pertaining to the project*1
The loan will support the oil field development project of MITSUI, thereby leading to promoting Japanese companies’ independent development and contributing toward the energy security of Japan.
As Japan’s policy-based financial institution, JBIC will continue to support the development of energy resources by Japanese companies and financially assist in the securing of a stable energy supply for Japan.