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Article: South Africa : Japan Finances South African Port Project.
- Article from:
- TendersInfo
- Article date:
- March 30, 2009
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Byline: Mamta03
The Japan Bank for International Cooperation signed an untied loan agreement totaling up to $357 million to finance South Africas project to expand the Port of Durban.
The loan agreement was signed on March 26 between JBIC and Transnet, South Africas wholly state-owned freight rail, ports and pipeline company, the Japanese government-affiliated bank said.
Three major Japanese commercial banks co-financed the loan: the Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp. JBIC provided guarantees for the three commercial banks portion of the loan.
According to JBIC, the loan will finance ...