WASHINGTON (Yosefardi) – 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 on Wednesday (October 15) signed a credit agreement totaling $94.3 million to finance the export of 50 General Electric Company locomotives to Indonesia.
Ex-Im Bank’s credit will support approximately 700 U.S. jobs up and down the supply chain, primarily in Erie, Pa. These estimates are derived from Department of Commerce and Department of Labor data and methodology.
PTKAI is the national railway of Indonesia and operates a fleet of more than 300 locomotives that provide both freight and passenger services on the islands of Java and Sumatra. The company plans to upgrade and modernize the nation’s rail infrastructure to better serve Indonesia’s growing economy.