J-10
02-20-2005, 02:59 AM
US Export-Import Bank makes 5 bn commitment for China N-Plants:
Washington, Feb 19 : The US Export-Import Bank has announced that it approved a preliminary commitment request from Westinghouse Electric Company of Monroeville for a guaranteed or direct loans of up to USD 5 billion to support export sales to construct four nuclear power plants in China.
Preliminary commitments may be converted to final commitments by vote of Ex-Im Bank board of directors after an applicant has finalised its financing package, met technical, legal and financial requirements, media reports said.
A preliminary commitment is a non-binding expression of interest from Ex-Im Bank that indicates that the proposed transaction, as outlined in the application, is of the type that may qualify for Ex-Im Bank support.
A further detailed examination of the proposed transaction would take place at the time of a final commitment application, the reports said.
The nuclear equipment is proposed to be used in the Sanmen Nuclear Power Stations (Zhejiang Province, southwest of Shanghai) and the Yangjiang Nuclear Power Stations (Guangdong Province, southwest of Hong Kong) of mainland China. The nuclear power plants are being purchased to meet the increased demand for power in the heavily industrialized region of the country.
The preliminary commitment is being issued in conjunction with a bid by the exporters that will be delivered in response to a "Request for Proposals" issued by the Government of China. Westinghouse is proposing to utilize its groundbreaking AP1000 1000-megawatt pressurized water reactor design, which incorporates key passive safety and other features.http://news.newkerala.com/india-news/?action=fullnews&id=74315
Washington, Feb 19 : The US Export-Import Bank has announced that it approved a preliminary commitment request from Westinghouse Electric Company of Monroeville for a guaranteed or direct loans of up to USD 5 billion to support export sales to construct four nuclear power plants in China.
Preliminary commitments may be converted to final commitments by vote of Ex-Im Bank board of directors after an applicant has finalised its financing package, met technical, legal and financial requirements, media reports said.
A preliminary commitment is a non-binding expression of interest from Ex-Im Bank that indicates that the proposed transaction, as outlined in the application, is of the type that may qualify for Ex-Im Bank support.
A further detailed examination of the proposed transaction would take place at the time of a final commitment application, the reports said.
The nuclear equipment is proposed to be used in the Sanmen Nuclear Power Stations (Zhejiang Province, southwest of Shanghai) and the Yangjiang Nuclear Power Stations (Guangdong Province, southwest of Hong Kong) of mainland China. The nuclear power plants are being purchased to meet the increased demand for power in the heavily industrialized region of the country.
The preliminary commitment is being issued in conjunction with a bid by the exporters that will be delivered in response to a "Request for Proposals" issued by the Government of China. Westinghouse is proposing to utilize its groundbreaking AP1000 1000-megawatt pressurized water reactor design, which incorporates key passive safety and other features.http://news.newkerala.com/india-news/?action=fullnews&id=74315