KfW-Ipex has issued a direct loan of US$109mn to support the export of German equipment to the US.

The borrower is Mississippi Silicon, a joint venture between Vicintin Family of Brazil and US-American Cleantech. The company is constructing a silicon metal manufacturing plant in the town of Burnsville, Mississippi.

The loan, with a 10.5-year tenor, will be used to purchase equipment and services from Dusseldorf-based SMS Siemag, a metallurgical and mechanical engineering company. The purchase will include a submerged arc furnace.

The total project cost is US$200mn, with the rest coming in the form of equity. The new plant will produce up to 33,000 tonnes of silicon metal a year.