UK Govt loans £27.9m to Bahrain Ministry of Works to support water treatment plant upgrade
- December 28, 2018
- Posted by: administrator
- Category: Investment and Finance, Asia, Europe
UK Export Finance (UKEF), the UK’s export credit agency, has provided Bahrain’s Ministry of Works with a loan of £27.9 million under its direct lending facility to upgrade a waste water plant in Bahrain.
International Trade Secretary, Rt Hon. Dr Liam Fox MP announced the loan from UK Export Finance to support UK-headquartered water and wastewater specialist Bluewater Bio’s contract with Bahrain Ministry of Works.
Bluewater Bio’s enhancements follow previous successful work by the company on the plant.
The announcement comes shortly after the chancellor announced an additional £2 billion in direct lending support from UKEF in this year’s Autumn Budget.
International Trade Secretary, Rt Hon. Dr Liam Fox MP, said:
“Bluewater Bio is an innovative, company and the continuing demand for its market-leading capabilities shows the value placed on British expertise in the water and wastewater sector across the globe.”
“It also shows how UK Export Finance’s support ensures innovative businesses like Bluewater can take full advantage of international opportunities as we develop relationships as an independent trading nation.”
Fergus Rooksby, Commercial Director of Bluewater Bio, said:
“The UK government’s support, through UKEF, has played an important role in helping us secure this second significant contract for Bluewater Bio in Bahrain.
Having environmentally friendly technology, backed by UK government support is a winning formula with our ongoing export expansion plans elsewhere around the world. We are delighted the Government of Bahrain has chosen to work with us again as it is a testament to our technology that will benefit the residents and businesses in the Tubli Bay area.”
The UK’s export credit agency is a government department which works alongside the Department for International Trade as an integral part of its strategy and operations.