Ex-Im Bank considers Kenyan locomotive finance request
The U.S. Export-Import Bank said it received an application to finance the export of eight refurbished U.S. locomotives, valued at about $14 million, to Kenya.
The locomotives will be used to transport soda ash from a production site in the interior to the Kenyan coast. Five of the eight locomotives will replace existing 1970s vintage engines. The other three will help meet the buyer’s need to transport an additional 365,000 metric tons of soda ash a year.
According to the Ex-Im Bank, the soda ash is sold to buyers in India, Southeast Asia, Africa and the Middle East.