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Ex-Im Bank’s $640.7 million loan supports refinery exports to Turkey

· Friday, December 06, 2013

The U.S. Export-Import Bank has authorized a $640.7 million direct loan to Star Refineri A.S. of Istanbul, Turkey, which will finance the export of American-made oil refinery equipment and support about 3,000 U.S. jobs.
The American-made equipment will factor in Star’s construction of an oil refinery in Aliaga, Turkey, about 30 miles north of Izmir on the Aegean coast. Upon completion in 2017, the refinery will process crude oil in addition to various other petrochemicals, including naphtha, LPG, and xylenes, Ex-Im Bank said.

Chris Gillis

Located in the Washington, D.C. area, Chris Gillis primarily reports on regulatory and legislative topics that impact cross-border trade. He joined American Shipper in 1994, shortly after graduating from Mount St. Mary’s College in Emmitsburg, Md., with a degree in international business and economics.