ANNOUNCEMENT 31 May 2011

In May 2011, the German Export Crediting Agency announced its support of an export project concerning deliveries and equipment for the construction of an electric arc furnce, a ladle furnace, a dust extraction unit and a continous billet caster in Russia.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 31 May 2011 | Removal date: open ended
Still in force

Trade finance

The export loan was announced in May 2011 and finances deliveries and equipment for the construction of an electric arc furnce, a ladle furnace, a dust extraction unit and a continous billet caster ('Lieferungen von Ausrüstungen für einen Elektrolichtbogenofen, einen Pfannenofen, einer Entstaubungsanlage sowie einer Knüppelstranggießanlage') in Russia. The benefitting German exporter is Siemens VAI Metals Technologies GmbH.

The German Eximbank only publishes value ranges for the projects it finances. The present project is in category 3. This cagegory includes projects with a financing value between 51 and 100 million EUR. The GTA assumes the lower bound amount of the respective category, in this case 51 million EUR (73 million USD), as the conservative estimate of the project value.

The maturity of the loan will be 9 years. The financing institution is Société Générale S.A. Paris, Frankfurt.

AFFECTED SECTORS

 

AFFECTED PRODUCTS