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Impex Associates and other US suppliers will export equipment and services to build a housing community in Doha, Qatar, backed by a US$30mn long-term loan guarantee from US Ex-Im Bank.
The Ex-Im-guaranteed loan by M&T Bank will support construction of a 120-villa compound for the expatriate community working for various western oil and gas development companies with operations in Doha.
“This transaction is the first 100% private-sector project that Ex-Im Bank has financed in Qatar outside of the oil and gas industry. Ex-Im Bank’s structured and project finance is available to support many kinds of US exports to this market in the oil and gas sector and beyond,” says Ex-Im Bank chairman and president (acting) James Lambright.
Major US suppliers participating in the project include: American Furniture; American Standard; Caterpillar; Terex; Kraftmaid; Maytag; Zesco Products; Rheem Water Heaters; Manitowoc; and Nautilus Group.
The project construction, operation and management will be overseen by the Almana Group in Qatar.