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Asia Energy’s financial advisers Barclays Capital had received a Letter of Interest from Ex-Im bank outlining likely indicative terms and conditions for participation in the financing of the Phulbari project.
Ex-Im Bank has supported more than $400 billion of US exports, primarily to developing markets worldwide.
AIM-listed Asia Energy is planning to invest US$530 million in developing a major 15 million tonne per annum exporting coal mine at Phulbari, with the aim to commence production during 2007.
“The US is a major manufacturer and supplier of mining equipment to the global industry. The Letter of Interest from Ex-Im Bank for the financing of Phulbari enhances Asia Energy's ability to negotiate with the US based equipment suppliers at this time,” Asia Energy joint MD David Lenigas said.
