UKEF helps Kier Group win a contract in the Middle East
UK Export Finance's direct lending facility made the difference and supported a Bedfordshire company's growth in the Middle East.
| About the transaction: Kier Group | |
|---|---|
| Region | Bedfordshire |
| Sector | Infrastructure: civil engineering |
| Export destination | Middle East |
| UKEF support | Direct lending facility |
Kier Group is a UK-based construction company. The company has won multiple contracts with a number of prestigious projects in the Middle East for clients in the finance, leisure and education sectors.
When Kier Group made a bid for a contract to develop part of Dubai’s Bluewater’s Island site, we were able to support Meraas Holding, the project sponsors, with a US $317.9 million loan (half of which we funded directly through our direct lending facility), helping Kier win the tender.
Paul Woodman, Executive Managing Director at Kier, said:
This is a significant contract for Kier that will support our growth in the Middle East. Working with UKEF has allowed us to offer a broader range of solutions to our customers and help achieve our export goals.
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