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US Ex-Im Bank has approved a preliminary commitment request from Westinghouse Electric Company for a combination of guaranteed and/or direct loans of up to almost US$5bn to support export sales to construct four nuclear power plants at two sites in the People’s Republic of China.
Preliminary commitments may be converted to final commitments by vote of the Ex-Im Bank board of directors after an applicant has finalised its financing package and met other technical, legal and financial requirements. A preliminary commitment is a non-binding expression of interest from Ex-Im that indicates that the proposed transaction, as outlined in the application, is of the type that may qualify for Ex-Im support. 

A further detailed examination of the proposed transaction would take place at the time of a final commitment application. Such an application would not be expected for a matter of months.

The nuclear equipment is proposed to be used in the Sanmen Nuclear Power Stations (Zhejiang Province, southwest of Shanghai) and the Yangjiang Nuclear Power Stations (Guangdong Province, southwest of Hong Kong) of mainland China. 

The nuclear power plants are being purchased to meet the increased demand for power in the heavily industrialised region of the country.
The preliminary commitment is being issued in conjunction with a bid by the exporters that will be delivered in response to a request for proposals issued by the government of China. 

Westinghouse is proposing to utilise its groundbreaking AP1000 1,000MW pressurised water reactor design, which incorporates key passive safety and other features.  Aggressive competition is expected from companies from other countries, along with the support of their respective governments.
Other US suppliers in this transaction include Bechtel Power. Many of the sub-suppliers will be small businesses.