AMNS Luxembourg Holding S.A. signs $5 billion loan agreement with consortium of Japanese banks
March 31 2023 - 1:00AM
AMNS Luxembourg Holding S.A. signs $5 billion loan agreement with
consortium of Japanese banks
31
March
2023,
07:00 CET
ArcelorMittal (‘the Company’) today announces that AMNS
Luxembourg Holding S.A., the parent company of AM/NS India, the
Company’s 60/40 steelmaking joint venture with Nippon Steel
Corporation in India, has entered into a $5 billion loan agreement
(‘JBIC co-financing loan’) with the Japan Bank for International
Cooperation (‘JBIC’), MUFG Bank, Ltd., Sumitomo Mitsui Banking
Corporation, Sumitomo Mitsui Trust Bank, Limited, Mizuho Bank,
Ltd., Mizuho Bank Europe N.V..
The proceeds obtained through the JBIC co-financing loan will be
used to finance the expansion of AM/NS India’s annual steelmaking
capacity at its Hazira plant from 9 million tonnes to 15 million
tonnes. In addition to the primary steelmaking capacity expansion,
the project includes the development of downstream rolling and
finishing facilities that will enhance AM/NS India’s ability to
produce value-added steels for sectors including defence,
automotive and infrastructure. The expansion project, which started
in October last year upon receipt of environment permitting, will
create more than 60,000 jobs.
ENDS
About ArcelorMittal
ArcelorMittal is the world's leading steel
company, with a presence in 60 countries and primary steelmaking
facilities in 16 countries. In 2022, ArcelorMittal had revenues of
$79.8 billion and crude steel production of 59 million metric
tonnes, while iron ore production reached 50.9 million metric
tonnes.
Our purpose is to produce ever smarter steels
that have a positive benefit for people and planet. Steels made
using innovative processes which use less energy, emit
significantly less carbon and reduce costs. Steels that are
cleaner, stronger and reusable. Steels for electric vehicles and
renewable energy infrastructure that will support societies as they
transform through this century. With steel at our core, our
inventive people and an entrepreneurial culture at heart, we will
support the world in making that change. This is what we believe it
takes to be the steel company of the future.
ArcelorMittal is listed on the stock exchanges
of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and
on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and
Valencia (MTS).
For more information about ArcelorMittal please
visit: http://corporate.arcelormittal.com/
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