Ex-Im-Backed GE Locomotives Sales to South Africa To Support 600 U.S. Jobs

Photo courtesy of GE Transportation

In FY 2011, Ex-Im Bank authorized a long-term loan guarantee of nearly $120 million to support a GE Transportation sale of locomotives to South Africa's Transnet Ltd., a large South African rail, port and pipeline company headquartered in Johannesburg.

The Bank also approved a preliminary commitment for approximately $200 million for the purchase of additional locomotives by Transnet. Ex-Im Bank financing is facilitating the partnership between GE Transportation Systems, Transnet, and Transnet Rail Engineering (TRE).

The contract with Transnet supports over 600 jobs at GE's factories in Erie and Grove City, Pa., in addition to other suppliers around the United States. 

Ten fully-assembled, energy-efficient GE locomotives and components for high-value locomotive kits have been shipped from GE's Erie manufacturing facility to TRE in South Africa. GE reports that three of its Model C30ACi locomotives can haul the same amount of freight as four older locomotives and save approximately 600,000 liters of fuel annually while lowering greenhouse-gas emissions.