Local company secures Ex-Im loan guarantee

ISTANBUL - Hürriyet Daily News

The Export-Import Bank of the United States (Ex-Im Bank) has authorized a $66.3 million guarantee in favor of UPS Capital Business Credit’s loan to Bis Enerji Elektrik Üretim, according to a press release.

Bis, a Turkish energy company based in the western province of Bursa, will purchase a General Electric Packaged Power turbine and generator, a Dresser-Rand steam turbine generator, a World Control International heat recovery steam generator, a WahlcoMetroflex diverter damper unit. This is Ex-Im Bank’s second transaction involving Halk Bankası, which will finance the export and associated installation services of the energy equipment, the statement said.

“Following on the successful June 2012 Framework for Strategic Economic and Commercial Cooperation meeting and visit of U.S. Trade Representative Ambassador Ron Kirk and Acting Secretary of Commerce Rebecca Blank, I am pleased to see concrete results via U.S. Turkish partnerships,” said Ambassador Francis Ricciardone in the statement. Bis will employ the new equipment at its plant in Bursa to expand its current electricity-production capacity by 76 megawatts.