EXIMBANK AIDS SALE TO MEXICO

The U.S. Export-Import Bank is assisting the $13 million sale of geothermal well equipment to expand production in Cerro Prieto geothermal field operated by Mexico's Comision Federal de Electricidad (CFE). International Bits & Drilling Equipment Corp., El Centro, Calif., is selling the specialized equipment to Constructora y Perforadora Latina SA, which will operate the wells for CFE. Eximbank will guarantee a loan of $11 million by Manufacturers Hanover International Banking Corp. to Banca

Sept. 16, 1991

International Bits & Drilling Equipment Corp., El Centro, Calif., is selling the specialized equipment to Constructora y Perforadora Latina SA, which will operate the wells for CFE.

Eximbank will guarantee a loan of $11 million by Manufacturers Hanover International Banking Corp. to Banca Serfin, a Mexican commercial bank that will fund the underlying sale.

Thirteen proposed geothermal wells will supply steam to an existing power generation plant in Cerro Prieto field, which CFE has used to generate electricity since 1973.

Drilling and completion of the wells is expected to take 2 years.