Ex-Im Bank Approves $641 Million to Finance the Export of U.S.Refinery Equipment to Turkey
December 5, 2013
(Ex-Im Bank)
Transaction Supports 3,000 Jobs
Washington, D.C. – In a boost for U.S. jobs, the Export-Import Bank of the
United States (Ex-Im Bank) has authorized a $640.7 million direct loan to Star
Refineri A.S. (Star) of Istanbul, Turkey, that will finance the export of
American-made oil refinery equipment and support approximately 3,000 U.S. jobs,
according to bank estimates derived from Departments of Commerce and Labor data
and methodology.
"This important transaction will support the export of cutting-edge American
equipment," said Ex-Im Bank Chairman and President Fred P. Hochberg. "Moreover,
the transaction will help a vital industry in Turkey and support 3,000 U.S. jobs
across America. The growth we see in the energy sector around the globe bolsters
jobs here at home."
The American-made equipment will factor in Star's construction of an oil
refinery in Aliaga, Turkey, approximately 30 miles north of Izmir on the Agean
coast. Upon completion in 2017, the refinery will process crude oil in addition
to various other petrochemicals, including naphtha, LPG, and xylenes.
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