ANNOUNCEMENT 30 Aug 2013

In August 2013, the German Export Crediting Agency announced its support of an export project concerning the construction of a steel and rolling-mill complex in Venezuela.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 30 Aug 2013 | Removal date: open ended

Trade finance

The export loan was announced in August 2013 and finances the construction of a steel and rolling-mill complex ('Errichtung eines Stahl- und Walzwerkkomplexes') in Venezuela. The benefitting German exporter is SMS Siemag AG, D?sseldorf.

The German Eximbank only publishes value ranges for the projects it finances. The present project is in category 5. This category includes projects with a financing value of over 200 million EUR. The GTA assumes the lower bound amount of the respective category, in this case 201 million EUR (266 million USD), as the conservative estimate of the project value.

The maturity of the loan will be 10 years. The financing institution is Banco Bilbao Vizcaya Argentaria S.A. (BBVA), Frankfurt.

AFFECTED SECTORS

 

AFFECTED PRODUCTS