International Trade Secretary announces loan for Bluewater Bio’s £28.6m contract with Bahrain Ministry of Works.
UK Export Finance (UKEF) 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. 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.”
Simon Martin, HM Ambassador to Bahrain said: “We welcome this development, which is an excellent example of the positive impact – in this case environmental impact – of British-Bahraini collaboration. This project has the potential to improve the lives of countless people living, working and investing in the Tubli Bay area. I am delighted to see UK commercial, technological and financial expertise helping provide a platform for Bahrain and Bahrainis to achieve.”
This press release was first published on Thursday 20th December via the official UK Government website. To read the full article, please click here