Billion dollar loan to Mitsui & Co. for Gulf coast mega-project finalised

Japan Bank for International Cooperation, Sumitomo Mitsui Banking Corporation co-finance Blue Point project

Click to learn more. JBIC will provide the bulk of a loan to Mitsui & Co. to finance its Blue Point mega-project in the USA.

Together, the two Japanese financial giants will fully finance Mitsui & Co.’s investment in the Blue Point mega-project in the USA. Together with JERA and CF Industries, Mitsui & Co. reached FID on the project in April this year, with a total investment price tag of around $4 billion. 1.4 million tons per year of CCS-based ammonia will be produced at the complex in Louisiana, with each partner independently handling offtake negotiations according to its final ownership percentage in the project.

Mitsui plans to reduce CO₂ emissions in the manufacturing process by utilizing CO₂ capture and storage (CCS) technology to reduce CO₂ emissions by more than ninety-five percent. Mitsui will also contribute to the low-carbonization of related industries by taking in some of the low-carbon ammonia produced and supplying them in fields such as power and chemicals.

JBIC will continue to contribute to the securing of a stable supply of Japan’s energy resources and to respond to energy transformation toward the realization of a decarbonized society by providing financial support for overseas business deployment by Japanese companies.

Via Google Translate, from JBIC’s official press release, 1 July 2025

The loan fits into a broader national strategy for Japan: secure decarbonised energy resources, and establish supply chains that allow the flow of hydrogen and associated products into Japan. As part of the Japanese government’s Basic Hydrogen Strategy launched in 2023, JBIC and other public financial institutions are responsible for mobilizing funds to establish these supply chains at large scale. Government subsidies in the form of GX Bonds also play a critical role in this transition, and we await the first announcement of recipients under a long-term CfD program, which will help facilitate the delivery of low-emission ammonia to Japan.