UAE Seeks At Least $100M From Ex-Im Bank For Reactor Parts

Law360, New York (August 7, 2012, 7:59 PM EDT) -- The Emirates Nuclear Energy Corp. applied Tuesday for more than $100 million in financing from the Export-Import Bank of the U.S. to purchase reactor parts and engineering services from a Pennsylvania firm for its landmark $20 billion Abu Dhabi nuclear project.

The Barakah One Project Co. seeks either a long-term loan or financial guarantee for an unspecified amount in excess of $100 million, with state-controlled parent company ENEC and principal contractor Korea Electric Power Corp. vouching as guarantors for the requested backing, according to a notice...
To view the full article, register now.