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U.S. Gov’t Agency Plans $2.84 Billion Loan for Oil Refinery—In Colombia
Posted By admin On April 19, 2011 @ 3:34 am In Featured Stories,Money Watch | Comments Disabled
Terence P. Jeffrey
CNS News 
April 19, 2011
The U.S. Export-Import Bank, an independent agency of the federal government, is now planning a $2.84-billion loan for a massive project to expand and upgrade an oil refinery–in Cartagena, Colombia.
The money would go to Reficar, a wholly owned subsidiary of Ecopetrol, the Colombian national oil company.
“This is part of a $5.18 billion refinery and upgrade project in Cartagena, Colombia supplying petroleum products to the domestic and export markets,” the Export-Import Bank said in a statement .
The U.S. government-controlled bank says the $2.84-billion in financing it plans to undertake will be the second largest project it has ever done. The largest was $3 billion in financing for a liquid natural gas project in Papua New Guinea.
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URLs in this post:
 CNS News: http://www.cnsnews.com/news/article/feds-plan-284-billion-loan-oil-refinery
 statement: http://www.exim.gov/pressrelease.cfm/31FCC63B-95C6-BE96-BFACF12DD5C9C502/
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