Ex-Im Bank OKs $2B In Financing For Indian Oil Project

Law360, New York (December 4, 2012, 8:03 PM EST) -- The U.S. Export-Import Bank voted to loan Reliance Industries Ltd. $1.06 billion and to guarantee a matching $1.06 billion loan by JPMorgan Chase & Co. to support the export of U.S. goods for the Indian conglomerate's expansion projects at an oil refinery complex in Gujarat, the bank announced Tuesday.

The loans, which are the largest Ex-Im Bank has ever authorized for Reliance, should support 12,300 U.S. jobs and more than 65 exporters and suppliers, including construction and engineering company Bechtel Corp., petrochemical technology company Lummus Technology...
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