FOR IMMEDIATE RELEASE August 4, 2005
Marianna Ohe or Phil Cogan (202) 565-3200
WASHINGTON, D.C.: Impex Associates, Inc., Coral Gables, Fla., and U.S. suppliers from Piscataway, N.J., to Vancouver, Wash., will export equipment and services to build a housing community in Doha, Qatar, backed by a $30 million long-term loan guarantee from the Export-Import Bank of the United States (Ex-Im Bank). The financing agreement was signed today at Ex-Im Bank headquarters in Washington, D.C.
The Ex-Im Bank-guaranteed loan by M&T Bank, headquartered in Buffalo, Ny. will support construction of a 120-villa compound for the expatriate community working for various western oil and gas development companies with operations in Doha.
This transaction is the first 100 percent private-sector project that Ex-Im Bank has financed in Qatar outside of the oil and gas industry. Ex-Im Bank's structured and project finance is available to support many kinds of U.S. exports to this market in the oil and gas sector and beyond, said Ex-Im Bank Chairman and President (Acting) James H. Lambright.
Major U.S. suppliers participating in the project include: American Furniture Co., Inc., Martinsville, Va.; American Standard, Piscataway, N.J.; Caterpillar, Inc., Peoria, Ill.; Terex Corp., Westport, Conn.; Kraftmaid, Middlefield, Ohio; Maytag Corp. Newton, Iowa; Zesco Products, Inc., Indianapolis, Ind.; Rheem Water Heaters, Montgomery, Ala.; The Manitowoc Company, Inc., Manitowoc, Wisc.; and Nautilus Group, Inc., Vancouver, Wash.
The project construction, operation and management will be overseen by the Almana Group, WLL, in Qatar.
Ex-Im Bank, the official export credit agency of the United States, is in its 71st year of helping finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance and direct loans. In fiscal year 2004, Ex-Im Bank authorized financing to support $17.8 billion of U.S. exports worldwide. For more information, visit www.exim.gov, or call 1-800-565-EXIM (3946) and press 2 for the nearest Ex-Im Bank regional office.