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US Ex-Im Bank has approved a US$14.4mn loan guarantee to support the export by Belleview Engineering & Construction; Fina Technology; and numerous US small business suppliers of a polystyrene plant to Russia.

Nizhnekamskneftekhim (NKNK), a private company located in Tatarstan, Russia, will license Fina’s proprietary technology to build a plant with a capacity of 50,000 tonnes of polystyrene per year. Belleview, a small business and the main contractor, will provide engineering, procurement and shipping services.

“I am particularly pleased that an estimated 75% of this transaction represents business for small US companies,” says US Ex-Im Bank chairman Philip Merrill.

Small business suppliers on the transaction include: Fabasco Shell & Tube;  Addison Fabricators;  Sepco Industries;  Polymer Equipment; General Ventures of Baton Rouge;  Petrochemical Services;  Liberty Welding & Iron Works;  and Mixing and Process Equipment.

Also participating in the export sale are:  Viking Pumps;  Reliance Electric;  Dresser;  and Conair Groupo.

Citibank is the guaranteed lender on the transaction.

NKNK currently uses crude oil and associated petroleum gas as feedstocks to produce rubber and a wide range of chemicals, petrochemicals and other products. The company is building the new plant to meet growing market demand for polystyrene.