In a joint statement, Indian steelmaker JSW Steel Limited, and Duferco International Trading Holding S.A. (DITH), the world’s leading independent steel trader, have announced that they have aligned their strategic goals in a landmark $700 million five-year advance payment and supply agreement executed on February 27, 2019.
This unique financing structure provides JSW with long-term funding to complement its plans for future growth secured by committed exports of steel products to DITH. For DITH, the transaction assures a captive supply of various steel products from JSW over the term of the agreement. The deal is the largest trade finance facility to have been arranged in the Indian steel sector.