A Japanese-Turkish joint venture has secured financing for a delayed FSRU project in Senegal.

KARMOL, a cooperation between Mitsui OSK Lines (MOL) and Karpowership, said on Wednesday it signed a loan agreement with two major Japanese banks for the FSRU, with a volume of up to $71m.

The lenders in question are MUFG Bank, described as Japan’s largest financial institution, and the Japan Bank of International Cooperation (JBIC), a state lender backing international projects and providing export credit.