Spain / Loan Insurance for Abengoa Desalination Plant Project in Agadir
Nippon Export and Investment Insurance
Nippon Export and Investment Insurance (NEXI) has decided to provide insurance for loans extended to Teyma Gestión de Contratos de Construcción e Ingeniería, S.A., a Spanish company that manages construcition projects under Abengoa S.A., a major general engineering company in Spain.
The Abengoa S.A. group has started to construct a seawater desalination plant in Agadir, Morocco. For the construction of Morocco's biggest desalination plant, the group is planning to purchase Japanese desalination equipment from Mitsui & Co. Plant Systems, Ltd., including reverse-osmosis membrane element manufactured by Toray Industries, Inc. and process pumps manufactured by Torishima Pump Mfg. Co., Ltd. The loans for the Abengoa company will be used to purchase such equipment.
Crédit Agricole CIB, Tokyo Branch (CACIB) and Japan Bank for International Cooperation will provide the loans, and NEXI's insurance will support the loans from CACIB. This is the first time that NEXI has provided medium- to long-term insurance to support Japanese export of water infrastructure equipment in Africa.
As a Japanese ECA, NEXI will continue to actively support Japanese companies' exports.
| Lender (Insured) | Crédit Agricole CIB, Tokyo Branch |
| Insured Amount | Approx. EUR 8 million |
| Covered Risk | Political Risk 97.5% and Commercial Risk 95% |
| Tenor | 5 years |