ANNOUNCEMENT 31 Jul 2015

In July 2015, the German Export Crediting Agency announced its support of an export project concerning the construction of a silicon furnace in Iceland.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 31 Jul 2015 | Removal date: open ended
Still in force

Trade finance

The export loan was announced in July 2015 and finances the construction of a silicon furnace ('Errichtung einer Siliziumschmelze') in Iceland. The benefitting German exporter is SMS Siemag AG, Düsseldorf.

The German Eximbank only publishes value ranges for the projects it finances. The present project is in category 4. This category includes projects with a financing value between 101 and 200 million EUR. The GTA assumes the lower bound amount of the respective category, in this case 101 million EUR (111 million USD), as the conservative estimate of the project value.

The maturity of the loan will be 12 years. The financing institution is KfW IPEX-Bank GmbH, Frankfurt.

AFFECTED SECTORS