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Tuesday, June 24, 2008

Japanese are working on it... kekeke

http://www.foxbusiness.com/story/markets/industries/finance/japan-lend--billion-australian-resource-projects/
Monday, June 23, 2008
Japan To Lend $9.3 Billion To Australian Resource Projects
Chris Oliver
MarketWatch Pulse

HONG KONG -- The Japan Bank for International Cooperation will lend roughly 1 trillion yen ($9.3 billion) during the next five years to help fund the operations of Japanese companies involved in natural resource projects in Australia, according to a Japanese media report. The first investment will see the bank extend $1.6 billion in loan financing to a consortium that includes Kansai Electric Power Co. , Tokyo Gas Co and Woodside Energy Ltd., which are seeking to develop a gas field off the west coast of Australia, the Nikkei newspaper reported Monday, without saying where it got the information. The funding is intended to help Japan secure stable supplies of natural resources, the report said. The planned lending will increase JBIC's share of loans to projects in Australia and Oceania to around 10% of its total loan book within five years from about 3% currently, the report said.

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