International Trade Secretary, Liam Fox, has announced that the UK’s export credit agency, UK Export Finance (UKEF), will provide support to construction companies Carillion and Kier who have won contracts in the UAE worth hundreds of millions.
UKEF will provide more than $600M in support for UK construction firms to deliver three major infrastructure projects in Dubai.
The announcement comes as the Department for International Trade launched Infrastructure Exports: UK (IE:UK), a new initiative bringing together the UK’s leading firms from the infrastructure industry with government in a new partnership to help UK companies secure major international contracts.
UK construction firms Carillion and Kier will deliver new housing, a major stadium complex and one of the Emirates’ biggest office developments.
Kier has won contracts for the construction of the Dubai Arena, a 17,000-seater entertainment and sports venue, and two staff accommodation buildings. UKEF will be guaranteeing $455M for Kier to carry out the projects.
Carillion will design and build the latest phase of “One Central”, Dubai World Trade Centre’s new mixed-use development in Dubai’s central business district. Carillion has already delivered the first and second phases of the development, and this new contract that will see them construct two new office towers thanks to UKEF support of $180M.
International Trade Secretary Liam Fox said: “With these flagship infrastructure projects, Kier and Carillion are helping to directly shape Dubai’s economy by boosting tourism and business infrastructure.
“This is yet another example of the UK’s global leadership in the infrastructure sector, and the Department for International Trade, as an international economic department, is proud to be helping these two outstanding firms succeed abroad with the backing of UK Export Finance.”
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