FOR IMMEDIATE RELEASE January 29, 2003
Marianna Ohe (202) 565-3200
UZBEKISTAN: The Export-Import Bank of the United States (Ex-Im Bank) Board of Directors approved two final commitments for long-term guarantees supporting U.S. exports to the Navoi Mining and Metallurgical Complex of Navoi, Uzbekistan. Both are sovereign transactions, with the Ministry of Finance acting as the primary source of repayment. The guaranteed lender is Societe Generale, New York, NY. The transactions are:
- a $76 million guarantee supporting the $78 million export by Bateman Engineering Inc., Aurora, CO, of mining and related equipment as well as engineering, procurement, construction and management services to Navoi Mining. U.S. suppliers participating in the project include Caterpillar Inc., Peoria, IL, and Lightnin Mixers, Rochester, NY. The equipment will enable Navoi Mining to upgrade and expand an ore processing plant and increase capacity at two mines.
- a $20 million guarantee supporting the $21.4 million export by Caterpillar SARL, Peoria, IL, of mining trucks, motor graders, wheel rims, and other mining and construction equipment to Navoi Mining. Caterpillar facilities in Decatur, Aurora and Morton, Illinois are suppliers on the transaction. The equipment will replace older mobile mining equipment.
NIGERIA: Ex-Im Bank's Board approved a final commitment for a $15.8 million long-term guarantee supporting the $16.5 million export by Harris Corp., Redwood City, CA, and other U.S. suppliers of microwave telecommunications equipment to Econet Wireless Nigeria Ltd. (EWN). The equipment will be used to enhance the cellular telephone signal for EWN's network along Nigeria's western coast. Other U.S. suppliers on the transaction include Harris' facilities in San Antonio, TX, and Melbourne, FL; Power Conversion Products, Crystal Lake, IL; Andrew Corp., Denton, TX; Radian Communications Corp., Dallas, TX; Knurr Systems, Newmarket, NY; and GNB Technologies, Lombard, IL.
BRAZIL: Ex-Im Bank's Board approved a final commitment for a $53.8 million long-term guarantee supporting the $62 million export of diesel electric locomotives by General Electric Co., Inc., Erie, PA, and off-road trucks by Terex Corp., Tulsa, OK, and Caterpillar Americas Co., Peoria, IL, to Brazil. The buyer, Companhia Vale do Rio Doce (CVRD), a large producer of iron ore and pellets, will use the trucks to replace older equipment used in hauling iron ore. The guaranteed lender is ABN AMRO Bank N.V., Chicago, IL. The primary source of repayment is CVRD.