International Trade Secretary, Rt Hon. Dr Liam Fox MP has announced that UK Export Finance (UKEF) has provided Bahrain’s Ministry of Works with a loan of £27.9 million under its direct lending facility to support UK-headquartered water and wastewater specialist Bluewater Bio’s contract win.
The loan from UKEF, the UK’s export credit agency and a government department, will see Bluewater Bio carry out further enhancements to upgrade a waste water plant in Bahrain following previous successful work by the company on the plant.
Commenting on the financial support, 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.”
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.”
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.
Fergus Rooksby, Commercial Director of Bluewater Bio, said the support provided by the UK government via UKEF had played an important role in helping the firm secure its second significant contract 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.” he added.
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