JBF Bahrain, a subsidiary of Indian polyester firm JBF, has secured a $123.5m loan to finance a $200m polyester film plant it is developing on the island after being awarded the project by the Industry and Commerce Ministry in December 2011.

The deal is split between a $93.5m seven-year tranche and a $30m nine-year tranche. It was arranged by India’s ICICI Bank.