Boston, MA 06/05/2014 (wallstreetpr) – General Electric Company (NYSE:GE) will sell the trains and power generators to Angola government. The government is interested to make a deal with GE for buying the trains and power generators worth $1 billion. Angola’s President Jose Eduard Dos Santos met the officials of the Export Import Bank of the US.
Finance By The Export-Import Bank Of The US
As per the news, Export-Import Bank of the U.S will finance the deal. It will be financed under the US’s Power Africa Initiative. The bank will provide the government with funds of $5 billion. The funds of $350 million will be granted for locomotives. The power equipments will get the funds of $650 million. The funds are to be used in the energy projects across the continent. The deal with General Electric Company (NYSE:GE) is finalized. It is one of the largest deals of Angola government.
Operations In Angola
General Electric Company (NYSE:GE) is running its operations in Angola since 1967. It has its operations in segments as power generation and transportation. The deal holds great significance for General Electric. Angola economy is a huge $122 billion economy that is expected to grow by 5.3% in the current year. Angola’s economy is expected to grow by 5.5% and 5.9% in the next two years.
The Other Good News
General Electric has made a bid of $17 billion to buy French conglomerate Alstom. The company is making all the efforts to crack a deal. It is facing a tough competition from its rival Siemens. Alstom has got strength in the sector like hydro turbines and power plant equipments. The power segment of Alstom will complement the energy portfolio of General Electric Company (NYSE:GE). The company also expects a strong set of revenues from Latin America. It is expecting the revenue to rise by 10% to 15% annually. Overall the company is taking calculated steps to have a strong financial year.
