On 30 March 2023, ArcelorMittal signed a memorandum of understanding (‘MOU’) with the Japan Bank for International Cooperation (‘JBIC’) to strengthen their partnership in steelmaking and decarbonisation.
The signing of the MOU between ArcelorMittal and JBIC builds on their existing business relationship, which includes JBIC’s financing in support of ArcelorMittal’s joint ventures with Nippon Steel Corporation in India and the United States, and foresees the parties cooperating to develop business opportunities with Japanese companies involved in steelmaking, including in low-carbon steelmaking technologies, the statement said.
As Japan’s policy-based financial institution, part of JBIC’s role is to contribute toward creating business opportunities for Japanese companies by facilitating cooperation with international partners, a statement said.
