JBIC Signs MOU on Strategic Cooperation with Sembcorp Industries Ltd. of Singapore
Strengthening Cooperation in Sector of Hydrogen and Ammonia as Fuel Source and Promoting Collaboration with Japanese Companies for Realizing Decarbonized Society
- Region: Asia
- Energy and Natural Resources
The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed today a Memorandum of Understanding (MOU) on strategic cooperation with Sembcorp Industries Ltd. (Sembcorp), a Singaporean company. The objectives of the MOU include promoting cooperation in sectors that use hydrogen and ammonia as a fuel source.
Sembcorp, which is an international player in the energy sector operating in several Asian countries, including Singapore, aims to deepen collaboration with Japanese companies regarding hydrogen supply chain projects, in order to achieve the goal of realizing a decarbonized society. Also, in its Fourth Medium-term Business Plan, released in June 2021, JBIC aims to respond to energy transformation, toward the realization of a decarbonized society.
With this MOU on strategic cooperation between JBIC and Sembcorp, under which the framework for collaboration between the two organizations is to be developed, JBIC aims to accelerate the structuring of projects for developing the supply chain of hydrogen and ammonia as a fuel source.
As Japan’s policy-based financial institution, JBIC will continue to contribute toward creating business opportunities for Japanese companies and securing a stable supply of resources for Japan through strengthened cooperation with important partners in the decarbonization sector.