Subscribe to our free, weekly email newsletter!

Global logistics: Ex-Im Bank to support U.S. exports to India

According to the Metropolitan Milwaukee Association of Commerce, the project will support approximately 1,000 jobs at Bucyrus and its suppliers throughout the United States.
By Patrick Burnson, Executive Editor
October 25, 2010

The board of directors of the Export-Import Bank of the United States (Ex-Im) have approved a $917 million export finance guarantee to support U.S. exports from Bucyrus International, located in Milwaukee, Wisconsin and other U.S. vendors, to the Sasan Power, Ltd. coal-fired power plant in Madhya Pradesh, India.

“The board’s approval of the Sasan power project resulted from carefully balancing the need to support American jobs and energy exports, while simultaneously encouraging development of renewable energy facilities,” said Ex-Im Bank Chairman and President Fred P. Hochberg. “We are pleased that Reliance Power, under the leadership of Anil Ambani, is taking steps to reduce the environmental effects of their activities and has long term plans which include power production with renewable energy alternatives.”

The companies, including Bucyrus, will sell and export mining and associated equipment to Sasan Power for the 3,960-megawatt power plant. According to the Metropolitan Milwaukee Association of Commerce, the project will support approximately 1,000 jobs at Bucyrus and its suppliers throughout the United States.

Earlier this month, Indian industrialists were championing the region’s logistical advantages and trade opportunities for U.S. shippers. Among them was Ram Ramakrishnan, executive director, Bajaj Electrical.
“While everyone seems to be concentrating on penetrating the China market, India has been quietly capturing share from forward-thinking multinational’s,” he said.

Speaking the Supply Chain Executive Summit in Houston recently, he added that India’s reverse logistics concentration is also an advantage.

“We were ‘sustainable’ long before the word became a cliché,” he said. “And our workforce is paid fair wages and treated with world class respect.”

According the Ex-Im spokesmen, approval followed a thorough, three-month financial, technical and environmental due diligence review conducted by Bank specialists.

In July, Reliance Power, Ltd., the owner of Sasan Power, signed a memorandum of understanding with Ex-Im Bank indicating its commitment to build a new 250-megawatt renewable energy facility, which will rank among the largest renewable energy projects in India. Moreover, the Sasan project will comply with Ex-Im’s new environmental guidelines that limit carbon emissions to 850 grams of CO2 per kilowatt hour.

About the Author

Patrick Burnson
Executive Editor

Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at .(JavaScript must be enabled to view this email address).

Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

Seasonally-adjusted (SA) for-hire truck tonnage in October at 135.7 (2000=100) was up 1.9 percent compared to September’s 133.1, and the ATA’s not seasonally-adjusted (NSA) index, which represents the change in tonnage actually hauled by fleets before any seasonal adjustment was 139.8 in October, which was 0.9 percent ahead of September.

The average price per gallon of diesel gasoline fell 3.7 cents to $2.445 per gallon, according to data issued today by the Department of Energy’s Energy Information Administration (EIA). This marks the lowest weekly price for diesel since June 1, 2009, when it was at $2.352 per gallon.

In its report, entitled “Grey is the new Black,” JLL takes a close look at supply chain-related trends that can influence retailers’ approaches to Black Friday.

This year, it's all about the digital supply network. In this virtual conference, we will define the challenges currently facing supply chain organizations and offer solutions designed to transform linear operations into dynamic, automated networks that offer seamless communication, visibility, and the ability to respond and optimize processes at any given time.

In his opening comments assessing the economy at last week’s RailTrends conference hosted by Progressive Railroading magazine and independent railroad analyst Tony Hatch, FTR Senior analyst Larry Gross said the economy continues to slog ahead at a relatively tepid pace, coupled with some volatility in terms of overall GDP growth. And amid that slogging, Gross said there is currently an economic hand-off occurring between the industrial sector and the consumer sector.

Article Topics

News · Supply Chain · Logistics · Trade · Exports · All topics


Post a comment
Commenting is not available in this channel entry.

© Copyright 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA