Export-Import Bank of the U.S. (Ex-Im Bank) Chairman and President Fred P. Hochberg, GE Transportation President and CEO Russell Stokes, and Indonesia’s PT Kereta Api (PTKAI) of Jakarta President and CEO Ignasius Jonan signed a credit agreement totaling USD 94.3M to finance the export of 50 General Electric Company locomotives to Indonesia.
PTKAI is the national railway of Indonesia and operates a fleet of more than 300 locomotives that provide both freight and passenger services.
“Ex-Im Bank’s financing of this transaction demonstrates the importance of public and private sector leadership,” said Stokes. “The Bank’s financial support is a critical part of GE’s ability to win foreign sales and deliver for our global customers like PTKAI. With $94.3 million in financing to PTKAI now secured, GE will build 50 locomotives in Pennsylvania and deliver them next year to Indonesia, sustaining good jobs in the U.S. and abroad.”
Source: EX-IM BANK
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