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GE says to lose Angola locomotive deal if Ex-Im Bank closes

The logo of US conglomerate General Electric is pictured at the company's site in BelfortBy David Lawder WASHINGTON (Reuters) – General Electric Co would lose a $350-million deal to build locomotives for Angola, and perhaps billions of dollars more in future export opportunities, if Congress closes the U.S. Export-Import Bank, a senior GE executive told Reuters. “It would be gone,” GE Transportation unit president Russell Stokes said of a not-yet-finalized agreement announced by the global conglomerate in March for 100 lightweight diesel-electric locomotives to be built in Erie, Pennsylvania. Up to 1,800 jobs at GE, its suppliers and local businesses in 12 states would be put at risk because, without Ex-Im financing, Angola would buy Chinese-built locomotives, he said.