ANNOUNCEMENT 07 Dec 2017

On 7 December 2017, the Italian Eximbank SACE announced providing funds for the construction of a power station in Bahrain to promote Italian exports.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

SACE, press release of 7 December 2017, SACE (CDP Group): € 125 million to finance the supply contracts of 40 Italian companies to the Aluminium Bahrain B.S.C. (Alba), home of Line Expansion Project: https://www.sace.it/en/media/press-releases/press-release/sace-(cdp-group)-125-million-to-finance-the-supply-contracts-of-40-italian-companies-to-the-aluminium-bahrain-b.s.c.-(alba)-home-of-line-expansion-project

Inception date: 07 Dec 2017 | Removal date: open ended
Still in force

Trade finance

The funds approved by the Italian Eximbank SACE have a total value of EUR 125 million (USD 147.38 million). The approval of funds was announced on 7 December 2017 in a press release. 

The funds support 40 Italian companies being subcontracted through the contractor GE Power and Gama Power Systems consortium for the Aluminium Bahrain B.S.C power station construction project in Bahrain.

In this context, SACE further elaborated in a press release: "GE-Gama consortium will provide gas turbines, engineering and design services for the combined-cycle gas-fed power station which will be connected with Alba's Line 6 Expansion Project. SACE's role is to support the subcontracts assigned to 40 Italian companies, mostly SMEs, specialized in machinery and components for the energy sector."

The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.

AFFECTED SECTORS

 

AFFECTED PRODUCTS