The US Exim Bank chairman Fred Hochberg has met civil aviation minister Praful Patel and discussed the expansion of American investment in the country's aviation infrastructure.
Hochberg also discussed issues related to opportunities for expanding US investment in the country in general, besides ways to help finance major Indian purchases of American passenger airlines, at his meeting with Patel here yesterday.
The meeting comes in the backdrop of the National Aviation Company, which runs Air India, signing a $1.1 billion agreement this January to support financing of sale of Boeing aircraft to the national carrier.
The financing was to support the sale of Boeing B777- 200-LRs and B777-300-ERs to be operated by Air India and B737- 800s to be operated by Air India Charters. These purchases represent the third phase of Air India's 68-aircraft fleet renewal plan.
The US Exim Bank had earlier approved $1.2 billion in 2007 and $548.8 million in 2008 to support the financing of NACIL's purchases of Boeing planes.
An American embassy spokesman said Hochberg, who is here for several days, will be meeting senior government officials and industry leaders.