JSW Steel USA has tied-up long-term financing with two Italian banking institutions, Intesa Sanpaolo and Banco BPM, for its Plate Mill modernisation project in Baytown in Texas in US. Out of the total financing, USD 70 million is covered under SACE guarantee and the balance USD 112 million is a term loan. JSW Steel USA's Plate mill modernisation project includes supplies from Italian engineering companies, Danieli & C Officine Meccaniche, Danieli Automation, and Danieli Taranis, all being subcontractors of Danieli Corporation for a cutting line, rolling mill and ACC/DQ. The project also includes supplies from Sideridraulic for a water treatment and cooling system and from Tenova for a grinding machine for the new rolling mill and related engineering services. The total value of equipment and related engineering services being provided by these suppliers is over USD 100 million. The financing was structured by SACE's Export Finance Division with the contribution of the SACE office in Mumbai, which has a long-standing relationship with JSW Steel. The SACE guarantee is provided with the intention of promoting Italian exports. Intesa Sanpaolo (IMI Corporate & Investment Banking Division) acted as SACE Agent and coordinator of the commercial tranche. Both, Intesa Sanpaolo and Banco BPM, have acted as Bookrunners and Mandated Lead Arrangers of the two facilities. Danieli & C Officine Meccaniche, founded in 1962 in Buttrio (UD), is a holding company in the design and installation of machines and plants for the steel industry and in the production of special steels. In its 60 years of experience, the Group has always invested in innovation and internationalisation to reach a leading position in the construction of steel mills and plants for the production of long products.