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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on March 30 a memorandum of understanding (MOU) with ArcelorMittal S.A. (AM) of Luxembourg to strengthen the mutual partnership in steelmaking and decarbonization.
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AM is the world's second largest steelmaker in the amount of annual crude steel production. It conducts multiple businesses, including steelmaking, in Europe, the Americas, and Africa, among other regions. Aiming to achieve carbon neutrality in 2050, AM is particularly focusing on developing advanced technologies in the steel industry to achieve decarbonization in the steelmaking sector.
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The signing of the MOU between JBIC and AM is intended to create business opportunities for Japanese companies in the steelmaking sector and also for decarbonization by such means as low-carbon steelmaking.
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As Japan's policy-based financial institution, JBIC will continue to contribute toward creating business opportunities for Japanese companies through strengthening the cooperation with important partners in overseas business expansion of Japanese companies and in the decarbonization sector.