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Success Stories
Reliance Petroleum Infrastructure Project
THIS REFINERY owned and operated by Reliance Industries Ltd. in Jamnagar Gujarat, India will become part of the largest refining complex in the world after work is completed on the $6 billion refinery and petrochemical complex that is being built adjacent to it. (Photo: RIL)
The new refinery will process approximately 580,000 barrels per stream per day (bpsd) of crude oil and manufacture 900,000 tons per annum (tpa) of polypropylene. Construction is due for completion in December of 2008.
This new refinery will be the world's sixth largest and located adjacent to RIL's existing refinery and petrochemical complex in Jamnagar. Together, the two refineries will comprise the largest refining complex in the world.
Bechtel Corp. of Houston, Texas, is providing design, procurement, project management and other services. Major U.S. exporters participating in the project include Black & Veatch International Co., Kansas City, Mo., for sulfur recovery and gas treatment units; Dow Global Technologies, Inc., Midland, Mich., for licensing and services for the polypropylene plant process; Foster Wheeler Corp., Clinton, N.J., for fired heaters for the refinery's coker; and UOP LLC, Des Plaines, Ill., for the catalytic converter reactor section and PSA (Pressure Swing Absorption) packages.
 THE WORLD'S LARGEST REFINING COMPLEX is being built in India using a $500 million loan guarantee from Ex-Im Bank. (Photo: RIL) |
Bhopal Medical College
In April of 2008, Ex-Im Bank approved a $29.4 million long-term loan guarantee to support multiple exports of U.S. medical, building and office equipment and services for the construction of Bhopal Medical College in Bhopal, India.
U.S.-made equipment and related services are being provided by JQ American Corp., a small business in Hayward, Calif. U.S. suppliers under the contract include, among others: Siemens Healthcare Diagnostics Inc. in Deerfield, Ill.; GE Medical Systems Inc. in Dallas, Texas; Hill-Rom Company Inc. in Batesville, Ind.; Varian Medical Systems Inc. in Palo Alto, Calif.; and Precision Medical Inc. in Northampton, Pa.
The transaction was structured under Ex-Im Bank's Medical Equipment Initiative and is the first to be authorized under the Bank's $2.2 billion India Infrastructure Facility that supports U.S. exports to Indian projects in sectors such as power and renewable energy generation, oil and gas development, small aircraft, airport development and health care.
Ex-Im Bank's financing support for the Bhopal Medical College Trust is guaranteed by Punjab National Bank in New Delhi, one of eight Indian financial institutions participating in the India Infrastructure Facility. The facility enables the Indian banks to provide their guarantees, thereby expediting processing of Ex-Im Bank-backed medium-term and long-term financing for Indian buyers of U.S. exports. Each financial institution has an underlying pre-approved credit line of $50 million to $250 million. Financing provided under the facility is denominated in U.S. dollars.
Signing of a $1.23 Billion Ex-Im Bank Loan Guarantee with National Aviation Company of India (NACIL) Signals Growing Importance of India Market
One of Air India's Boeing 777-200LR airliners.
The completion of the financing documentation for the 17 aircraft and spare engines represents the first phase of Air India's 68-aircraft fleet renewal plan.
Ex-Im Bank signed an $862.6 million guarantee of an ABN AMRO long-term loan to back the sale of Boeing 777-200LR aircraft, Boeing 777-300 ER aircraft, and GE90 spare engines from General Electric Co., Cincinnati, Ohio, for Air India. The Bank also signed a $363.5 million guarantee of an ABN AMRO long-term loan to support the sale of Boeing 737-800 aircraft and CFM-56 spare engines from CFM International Inc., Cincinnati, Ohio, for Air India Express.
New MRI Scanner
In July 2004, General Electric Healthcare of Waukesha, WI received a single-sale, multiple-shipment medium-term insurance policy from Ex-Im Bank to support U.S. Bank National Association financing of the export sale of a new GE MRI Scanner to MRI Scans Private, Ltd. of New Delhi, India. This $870,404 transaction qualified for Ex-Im Bank's Medical Equipment Initiative Program. The exported equipment provides advanced diagnostic services to the surrounding community, where there is a large demand.
Demineralization System
In October 2007, Ex-Im Bank supported an export sale by the General Electric Company (GE) of a $607,237 demineralization system to Crown Milk Specialties Private Ltd. (Crown Milk) of Mohali, India. The buyer, Crown Milk, is using the GE system to expand production capacity in its baby food cereal and health drink business. General Electric Capital Corporation is the Ex-Im Bank-guaranteed lender.
Last Updated: May 13, 2008
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