REPUBLIKA.CO.ID, WASHINGTON - The US Export-Import Bank (Ex-Im Bank), GE Transportation President Russell Stokes, and Indonesia's PT Kereta Api (PTKAI) inked a credit agreement totaling 94.3 million USD to finance the export of 50 General Electric locomotives to Indonesia.

The agreement was signed on Thursday by Ex-Im Bank Chairman Fred P. Hochberg, GE Transportation President Russell Stokes, and Indonesia's PTKAI President Ignasius Jonan. Ex-Im Bank's credit will support approximately 700 US jobs up and down the supply chain, mainly in Erie, Pa. These estimates are derived from the data and methodology of the Department of Commerce and the Department of Labor.

"This is a perfect example of the sort of win-win situation that happens when countries buy American products," stated Hochberg.

"Ex-Im is proud to facilitate transactions similar to this one, which will support 700 quality jobs here in America even as it empowers Indonesia to build an enduring and reliable transportation infrastructure on the foundation of quality US products," he noted.

PTKAI is Indonesia's national railway that operates a fleet of more than 300 locomotives that provide both freight and passenger services on the islands of Java and Sumatra. The company plans to upgrade and modernize the nation's rail infrastructure to better serve Indonesia's growing economy.

"Ex-Im Bank's financing of this transaction demonstrates the importance of public and private sector leadership," Stokes remarked.

Ikuti Whatsapp Channel Republika