Standard Lithium (SLI) said Tuesday that Smackover Lithium, its joint venture with Norwegian petroleum refiner Equinor (EQNR), has received interest for more than $1 billion in senior secured project debt to support the construction of its South West Arkansas project.

Three major Export Credit Agencies including Export-Import Bank of the United States and Export Finance Norway have shown interest in helping fund the project, Standard Lithium said.

The company said the joint venture is currently looking for a senior secured, limited recourse debt financing package worth as much as $1.1 billion that is expected to include an Export Credit Agencies financing package, and an uncovered tranche of senior secured project debt from commercial banks.

The project debt will be used to fund total estimated capital expenditures of $1.45 billion for the project, Standard Lithium said.

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