Siemens Gets $638M Ex-Im Bank Loan For Energy Project

Law360, New York (January 11, 2012, 6:44 PM EST) -- A U.S. subsidiary of German industrial giant Siemens AG has secured $638 million in financing from the Export-Import Bank of the U.S. for a $2 billion energy project in Saudi Arabia, the bank announced Wednesday.

The combined cycle gas-fired plant will be located in Qurayyah on the eastern coast of Saudi Arabia and have a capacity of 4,000 megawatts. Siemens Energy Inc. will produce 10 Model F5 gas turbines and 18 gas and steam turbine generators, and provide support equipment and services, according to Ex-Im Bank....
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