A four-lane highway linking Romania westward to Hungary and the rest of Central Europe and eastward to the Black Sea will be built with the assistance of a $180 million loan guarantee from the Export-Import Bank
Published:
8 October 2004 y., Friday
A four-lane highway linking Romania westward to Hungary and the rest of Central Europe and eastward to the Black Sea will be built with the assistance of a $180 million loan guarantee from the Export-Import Bank of the United States (Ex-Im Bank) to support U.S. exports.
The transaction will help sustain U.S. jobs and promote Romanian
trade and tourism. The Ex-Im Bank guarantee will support a loan by RZB Finance LLC, New York, N.Y. to Romania's Ministry of Transport, Construction and Tourism. It will finance a motorway project involving the export by Bechtel Overseas Corp., San Francisco, Cal., of engineering and project management services, and the export of construction and other equipment from U.S. suppliers including Caterpillar Inc., Peoria, Ill.; PACCAR INC., Kirkland, Wash.; Link-Belt Construction Equipment Co., Lexington, Ken.; and Bukkenhave Inc., Fort Lauderdale, Fla.
"This transaction will support high-quality jobs in both of our countries and help to build a vital trade and transportation artery for Romania," said Ex-Im Bank Chairman Philip Merrill. "We are eager to do more business with the growing Romanian market."
The U.S. exports under the Ex-Im Bank transaction will be used to build a 117-kilometer segment of the 415-kilometer Brasov-Cluj-Bors Motorway that will link the city of Brasov in central Romania with the Hungarian border in the northwest. The motorway will be part of an existing larger network linking Romania to the Black Sea. The 117-kilometer segment will take will four years to build. It will take nine years to complete the entire four-lane highway.
The Ex-Im Bank-guaranteed loan will be denominated in Euros in accordance with Ex-Im Bank's Foreign Currency Guarantee Program. The financing will be guaranteed by Romania's Ministry of Public Finance, carrying the full faith and credit of the Romanian government.
Šaltinis:
PRNewswire
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Elinor Ostrom -- an American professor who developed ways to manage common property - is the first woman to win the Nobel prize for economics.
more »
The European Commission has today approved an application from the Netherlands under the Globalisation Adjustment Fund (EGF) for € 386 114 to help 435 workers made redundant by Heijmans N.V., a Dutch construction company, back into jobs.
more »
Seeking to strengthen and further expand product sales in the Asian region, the Lithuanian biotechnology company Fermentas established its subsidiary in China.
more »
Statistics Lithuania reports that, based on non-final data obtained from customs declarations and Intrastat reporting data, exports in January–August 2009 totalled LTL 25.6 billion, while imports – LTL 28.9 billion.
more »
On 6 October 2009 AB Bank SNORAS Board decided to reform the Private Limited Company UAB “SNORO investicijų valdymas” into the Public Limited Company AB „Finasta Holding“, which will control recently obtained „Finasta“ group companies and other Bank SNORAS group companies, engaging in investment management.
more »
If your airline goes bankrupt and leaves you stranded what are your legal rights? Members of the Parliament's Transport Committee want grounded passengers to have access to a special compensation fund.
more »
Euro report says currency provided protection from interest and exchange rate turbulence.
more »
Statistics Lithuania informs that in September 2009, against August, prices for total industrial production sold dropped by 1.6 per cent.
more »
The European Bank for Development and Reconstruction (EBRD), the European Investment Bank (EIB) Group, and the World Bank Group* on Monday warned against complacency in the face of significant challenges that stand in the way of economic recovery in Central and Eastern Europe.
more »
The leader of the country’s investment products’ market – AB DnB NORD Bankas – intends to issue up to EUR 300 million nominal value corporate notes in local and foreign markets over the next 12 months.
more »