Wuxi BWF Environmental Technology Limited

MIGA issued two separate guarantees, for $1.7 million and $302,000 in coverage, to BWF Unternehmensbeteiligungen GmbH of Germany for its equity and loan investments in the construction and operation of a filtration needle felt manufacturing facility. Filtration needle felts are used for industrial dust extraction and waste gas purification to control air pollution. The MIGA guarantees were issued against the risks of expropriation and war and civil disturbance.

The project enterprise, Wuxi BWF Environmental Technology Limited, located in Jiangsu Province, is a joint venture with a local filtration needle felt manufacturer in the city of Xishan. The investment will enhance quality and availability by introducing new technology and know-how in the production and distribution of filtration needle felt. Domestic companies will benefit from the local procurement of all supplies and raw materials. The project also will create more than 130 jobs for Chinese nationals, who will be trained in production procedures, quality control, and maintenance. Annual exports in excess of $600,000 and more than $300,000 in annual tax and dividend revenues will be generated.