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.
The deal follows €450 million worth of support provided by UKEF for healthcare and power provision in Angola.
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.
UK Export Finance is the UK’s export credit agency and a government department, working alongside the Department for International Trade as an integral part of its strategy and operations.
Our mission is to ensure that no viable UK export should fail for want of finance or insurance from the private market. We provide finance and insurance to help exporters win, fulfil and ensure they get paid for export contracts.
Sectors in which UKEF has supported exports include: aerospace, healthcare, infrastructure, telecommunications and transport.
UKEF has a national regional network of 24 export finance managers supporting export businesses.
Our range of products includes:
- Bond insurance policy
- Bond support scheme
- Buyer & supplier credit financing facility
- Direct lending facility
- Export insurance policy
- Export refinancing facility
- Export working capital scheme
- Letter of credit guarantee scheme
Our country cover positions outline our current cover policy and risk appetite for each country.
About Bluewater Bio
Bluewater Bio is an award winning global specialist in technologies for cost-effective water & wastewater treatment. Headquartered in London, Bluewater Bio’s range of best in class technologies have been deployed at over 80 sites globally.