Ex-Im Bank approves loan for U.S. X-ray equipment at Egypt’s Sokhna port
The U.S. Export-Import Bank approved a $7.9-million loan guarantee for a Massachusetts company to sell and install U.S.-built cargo X-ray equipment at Egypt’s Ain Sokhna port.
American Science and Engineering in Billerica, Mass. will provide the Red Sea port with a high-energy X-ray machine to inspect ocean containers, and two parcel X-ray systems to inspect smaller cargoes. The total sale is valued at $8.5 million.
The guaranteed lender for the transaction is HSBC Bank in London.
The Sokna Port Development Co. is Egypt’s first privately operated port facility, located 130 kilometers east of Cairo. The port serves the Suez Special Economic Zone at the southern outlet of the Suez Canal.
Under Ex-Im Bank’s Transportation Security Exports Program, U.S. companies can receive enhanced financing terms when exporting equipment, technology and services to countries seeking to improve the security of their cross-border transportation systems.