Speaking to reporters in Moscow, the JBIC head said, "The bank [has] signed an agreement in Baku at the beginning of February with an international consortium on a loan of US$580 million."
"Japanese companies Mitsui, Sumitomo and Marubeni Itochu Steel will participate in the pipeline's construction [and] the total sum of the contracts they have secured for supplying equipment comes to about $400 million," confirmed Shinozawa who added, "The new pipeline will safeguard the supply of oil to the world market, including oil supplies to Japan."
