Japan Bank for International Cooperation has announced that, cofinancing with Mizuho Bank, it has loaned $58 million to Japanese steelmaker JFE Holdings Co. for the acquisition of equity interest in China-based Baosteel Special Steel Shaoguan.
Accordingly, JFE Steel has received funds for the acquisition of a 50 percent share in Baosteel Special Steel Shaogan Co. Ltd. This new joint venture has a capacity of approximately 1.1 million mt per year.