<p>ArcelorMittal SA on Friday said its Indian steelmaking joint venture with Asian peer Nippon Steel Corp has entered into a $5 billion loan deal with a consortium of Japanese lenders.</p>.<p>The proceeds would be used to fund the expansion of the JV's annual steelmaking capacity at its Hazira plant in India to 15 million tonnes from 9 million tonnes, the European steelmaker said in a statement.</p>.<p>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.</p>.<p>The JV, called AM/NS India, is owned by AMNS Luxembourg Holding SA, in which ArcelorMittal holds a 60% interest and Nippon Steel the rest.</p>.<p>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.</p>
<p>ArcelorMittal SA on Friday said its Indian steelmaking joint venture with Asian peer Nippon Steel Corp has entered into a $5 billion loan deal with a consortium of Japanese lenders.</p>.<p>The proceeds would be used to fund the expansion of the JV's annual steelmaking capacity at its Hazira plant in India to 15 million tonnes from 9 million tonnes, the European steelmaker said in a statement.</p>.<p>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.</p>.<p>The JV, called AM/NS India, is owned by AMNS Luxembourg Holding SA, in which ArcelorMittal holds a 60% interest and Nippon Steel the rest.</p>.<p>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.</p>