(This March 31 story was corrected on April 4 in the headline
and throughout to clarify parent company of ArcelorMittal-Nippon
Steel India signed loan deal and not the JV)
BENGALURU, March 31 (Reuters) - ArcelorMittal SA on Friday said AMNS Luxembourg Holding S.A., the parent company
of ArcelorMittal Nippon Steel India (AM/NS India), has entered
into a $5 billion loan deal with a consortium of Japanese
lenders.
The proceeds would be used to fund the expansion of AM/NS
India's annual capacity at its Hazira plant in India to 15
million tonnes from 9 million tonnes, the European steelmaker
said in a statement.
The expansion would include the development of downstream
rolling and finishing facilities for a string of sectors
including defence, automotive and infrastructure, and add 60,000
jobs, it said.
ArcelorMittal Nippon Steel India is a 60/40 joint venture
between ArcelorMittal and Nippon Steel Corp , owned by
AMNS Luxembourg Holding S.A.
The Japanese banks include Japan Bank for International
Cooperation, MUFG Bank, Sumitomo Mitsui Banking Corp, Sumitomo
Mitsui Trust Bank, Mizuho Bank, Mizuho Bank Europe NV.
(Reporting by Meenakshi Maidas in Bengaluru; Editing by Dhanya
Ann Thoppil and Jamie Freed)
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