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Qurayyah IPP US Ex-Im direct loan approved
11 January 2012
US Ex-Im has approved direct export financing for the world’s largest IPP to buy Siemens power generation equipment that supports North Carolina jobs.
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IPP
Saudi Electric
US Ex-Im
Qurayyah
Siemens Energy
US exports
Euler Hermes
Kexim
Murabaha
The board of directors of the Export-Import Bank of the United States (US Ex-Im) has approved the $638 million direct loan to finance the sale by Siemens Energy of gas and steam turbines to be installed in the Qurayyah Independent Power Project (IPP) in Saudi Arabia (Trade Finance, 08/12/11).
This is the second order being produced by 825 new highly-skilled workers at Siemens’ Charlotte, North Carolina facility. The plant was specifically constructed, and the work force hired, to produce American-made goods to serve markets around the world, from Latin America to the Middle East, from North America to Asia.
The announcement comes as President...
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