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 ·

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 [email protected]

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!

Article Topics

Exports · Logistics · Supply Chain · Trade · All Topics
Latest Whitepaper
Improving Packaging: The Cost of Shipping Air is Going Up
Retailers and manufacturers that insist on using inefficient and sloppy packaging methods—oversized boxes, inefficient packaging, poorly constructed palletized contents—are paying for their mistakes in sharply higher freight rates. Pitt Ohio White Paper, Logistics White Paper, Dimensional Packaging
Download Today!
From the July 2016 Issue
While it’s currently a shippers market, the authors of this year’s report contend that we’ve entered a “period of transition” that will usher in a realignment of capacity, lower inventories, economic growth and “moderately higher” rates. It’s time to tighten the ties that bind.
2016 State of Logistics: Third-party logistics
2016 State of Logistics: Ocean freight
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Getting the most out of your 3PL relationship
Join Evan Armstrong, president of Armstrong & Associates, as he explains how creating a balanced portfolio of "Top 50" global and domestic partners can maximize efficiency and mitigate risk.
Register Today!
EDITORS' PICKS
Regional ports concentrate on growth and connectivity
With the Panama Canal expansion complete, ocean cargo gateways in the Caribbean are investing to...
Digital Reality Check
Just how close are we to the ideal digital supply network? Not as close as we might like to think....

Top 25 ports: West Coast continues to dominate
The Panama Canal expansion is set for late June and may soon be attracting more inbound vessel calls...
Port of Oakland launches smart phone apps for harbor truckers
Innovation uses Bluetooth, GPS to measure how long drivers wait for cargo