ANNOUNCEMENT 30 Oct 2009

In October 2009, the German Export Crediting Agency announced its support of an export project concerning the construction of a converter steel mill and a pellet system in India.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 30 Oct 2009 | Removal date: open ended

Trade finance

The export loan was announced in October 2009 and finances the construction of a converter steel mill and a pellet system ('Errichtung eines Konverter-Stahlwerks und einer Pelletieranlage') in India. The benefitting German exporter is SMS Siemag Aktiengesellschaft.

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 (296 million USD), as the conservative estimate of the project value.

The maturity of the loan will be 10 years. The financing institution is AKA Ausfuhrkreditgesellschaft m.b.H., Frankfurt.

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