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.