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The US Export-Import Bank has approved a US$60mn credit guarantee facility to Mexico’s state power company CFE to back the purchase of equipment and services from a range of US companies.

CFE anticipates purchases in the first half of 2004 will total about US$50mn from 20 US suppliers. The company expects to buy testing and measuring equipment, turbine components and parts, control systems, fibre-optic cable and other equipment.

The medium-term guaranteed line of credit from Credit Lyonnais Global Partners is for one year and is a renewal of an existing US$20.5mn facility that CFE has had with US Ex-Im since 1995.