US lawmaker welcomes Exim decision on Reliance project

A US lawmaker has welcomed the decision of the Export-Import Bank of the United States to provisionally approve financing of a Reliance power project in Madhya Pradesh, stating that this would help save and create jobs in America.

"We know that there is no better equipment than what we can make here -- that's why our workers got the job. And that's why I have been working with the Export-Import Bank since January to help Bucyrus do this work," said Congresswoman Gwen Moore from Wisconsin.

 A day earlier, the Exim Bank had reversed its previous decision and voted to provide loan guarantees that would save jobs in Milwaukee and allow Bucyrus to manufacture equipment for a coal plant in India.

"This new vote is hope for many families, who have been struggling through this recession. I am so glad that the Export-Import Bank reconsidered this decision," Moore said.