Press Releases and News

SACE has been awarded an advisory contract to assist with the operational set up of the new Russian agency for insurance of export credit and investment, Exiar. SACE is currently acting as Exiar’s advisor, providing technical consultancy services alongside a technical training program with a focus on products, work practices, risk management and assessment. The co-operation will be further reinforced by a Memorandum of Understanding with an expected project pipeline of over € 1 billion trade &investment opportunities in the CIS Region

SACE has guaranteed a US$ 400 million equivalent loan granted to the major Indian petrochemical and oil & gas group, Reliance Industries, for the expansion and upgrading of the production capacity of its petrochemical plants, a gasification plant and refinery off-gas cracker as part of an investment plan in India worth over US$ 11 billion.

SACE has guaranteed a US$ 144 million loan to Taneco, a subsidiary of the Russian oil company OAO Tatneft, for the construction of a new refinery in the Republic of Tatarstan (Russian Federation). The SACE guarantee will support the contracts awarded to a number of Italian companies including Mangiarotti, Officine Luigi Resta, Walter Tosto and Weir Gabbioneta.

SACE has guaranteed a US$ 210 million loan to Refinerìa de Cartagena S.A. (“Reficar”) owned by Ecopetrol, Colombian oil company, for the modernisation and enlargement of Cartagena refinery in Colombia. The SACE guarantee will support the contracts awarded to a number of Italian firms involved in the project.

SACE has guaranteed a US$ 280 million corporate loan to Santos, Australia’s largest domestic gas producer, in connection with the Gladstone LNG project (“GLNG”) in Queensland, Australia. The SACE guarantee will support the EPC Pipeline contract awarded to the Italian company Saipem for the engineering, procurement and construction of a 435 kilometers onshore and offshore gas pipeline.