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Overseas Private Investment Corporation News

09 Jan 2020

Georgia Scraps Deal on Major Port Project

© Image'in / Adobe Stock

Georgia has ended an investment agreement with an international consortium for one of the biggest projects in the former Soviet country, the construction of a major deep sea port on the Black Sea coast, its infrastructure minister said on Thursday.The nine-phase project to improve access to Central Asia and the Middle East had received support from Georgia's strategic partner, the United States, as well as the European Union, which had labelled the planned port at Anaklia a priority project."The government discussed this issue and decided that further postponement does not make sense…

13 Aug 2019

Flowserve Inks Deal for Prelude FLNG

Flowserve Corporation (FLS), a provider of flow control products and services for the global infrastructure markets, has entered into a five-year contract with Shell Australia to provide general maintenance services for Shell’s Prelude Floating Liquified Natural Gas (FLNG) facility, which is producing natural gas from an offshore field in Western Australia.A press release from the American multinational corporation said that it will support Prelude from its recently refurbished Quick Response Center (QRC) in Darwin, the capital of Australia’s Northern Territory.Flowserve QRCs are dedicated maintenance, repair and manufacturing workshop facilities that provide customers with responsive, local support.

12 Mar 2014

OPIC Awards Ellicott for Dredge Work in Iraq

Congressman Mark Meadows (NC) and Ellicott's Peter Bowe

In a ceremony at the U.S. Chamber of Commerce, the Overseas Private Investment Corporation’s (OPIC) President and Chief Executive Officer Elizabeth L. Littlefield presented Ellicott Dredge Enterprises, LLC and its Ellicott Dredges LLC entity with OPIC’s inaugural “Impact Award” for Ellicott’s work in Iraq. Ellicott was one of only eight organizations across the country receiving this award from OPIC, the U.S. Government’s development finance institution. With the assistance of political risk insurance from OPIC…

20 Dec 2011

BRAZIL: U.S. Find New Opportunities

While the U.S. economy may be in the doldrums, smart U.S. companies are looking increasingly to exports to help their bottom lines. A major market for U.S. exports is Brazil. This article examines new market opportunities in the oil and gas, shipbuilding and port infrastructure in Brazil, and identifies certain financing sources available to U.S. companies seeking to participate in these markets. Brazil’s growth in recent years has been amazing. Over the past 5 years, real GDP growth in Brazil has averaged 4.3% annually (as compared to 1.3% annually in the U.S.), reaching 7.5% in 2010.

16 Oct 2006

Transportation Secretary Swears in New Seaway Administrator

Secretary of Transportation Mary E. Peters swore in Collister Johnson, Jr. as the Administrator of the Saint Lawrence Seaway Development Corporation (SLSDC). Together with Canada’s St. Lawrence Seaway Management Corporation, the SLSDC jointly operates and markets the binational Great Lakes St. Lawrence Seaway waterway that provides global market access to and from North America’s manufacturing and agricultural heartland. The SLSDC, one of ten agencies within the Department, operates and maintains the two U.S. locks in Massena, N.Y., on the Nation’s northern border. Johnson has served previously as President and Chief Executive Officer of FastShip Atlantic, Incorporated and as Chairman of the Virginia Port Authority.