China gets airport loan

China gets airport loan

WASHINGTON (AFP): The U.S. Export Import Bank said Thursday it has authorized a US$27 million loan to China to help finance the sale of U.S. exports for the expansion of the Harbin International Airport in Manchuria.

The Annapolis, Maryland-based firm ARINC, Inc. won a $30- million contract to serve as the prime contractor for the airport expansion in Heilongjiang, Manchuria.

"This is the first time that an American company has been selected to serve as systems integrator for a Chinese airport, and it positions us and other American companies well for future opportunities in China," said Wally Miller, ARINC's international programs director.

Forty U.S. suppliers of airport equipment and services are involved in the contract, including Motorola, FMC Corporation, Honeywell, Inc., Wilcox Electronics Inc, Jetway, and Hewlett Packard.

Ex-Im Bank, an independent U.S. government agency, financed $1.1 billion in U.S. sales to China in fiscal 1994.