in Aerospace

Colas UK to help build Ugandan airport with UKEF support

Posted 14 December 2017 · Add Comment

Transport infrastructure firm Colas UK has secured a contract to support construction of the new Ugandan Hoima International Airport in Kabaale, following the largest ever UK Export Finance (UKEF) loan to an African government.

UK Export Finance’s largest ever loan (€270 million) to an African government will help finance the construction of a new international airport in the Kabaale region of Uganda. This will become the country’s second international airport, opening access for the delivery of equipment, materials and services. By enabling vital work to be carried out on large-scale infrastructure and energy projects planned in the area, the airport will have significant long-term benefits for the country’s developing economy and energy independence. A second phase of development is planned to improve the airport’s capacity to support tourism and international trade at a later stage.

This is the first major project in Uganda supported by UKEF, which offers UK-government backed loans to overseas buyers in support of UK exports. UKEF’s finance will help support work on the construction of the runway, taxiway, cargo terminal and other necessary infrastructure to be undertaken by the UK arm of infrastructure firm Colas UK. Work is scheduled to commence in January 2018. Additional financing will be provided by Standard Chartered which acted as the lead arranger for the deal.

Director of Strategic Projects at Colas UK, Carl Fergusson, said: "With huge untapped natural resources, rapid urbanisation and attractive demographics, the requirement for investment in infrastructure to support continued regional development is clear and this aligns well with the outward looking international element of the Colas Ltd strategy which seeks to expand our activities in East Africa. Colas are delighted to have been awarded this significant project."



International Trade Secretary, Dr Liam Fox (above), said: "The UK is a global leader in the infrastructure sector and I’m delighted that UK Export Finance is helping the Ugandan government and Colas on this significant project. As an international economic department, the Department for International Trade is proud to support our trading partners around the world as they invest in their countries’ infrastructure and economic development and enable UK companies to contribute their expertise and share in the benefits of international trade."

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

SEA supplying TLS to navies in South East Asia

Cohort company SEA is supplying its Torpedo Launcher Systems (TLS) to three South East Asian navies that have signed up for a solution based on technology originally developed for the UK Royal Navy.

Bristol Airport and SWRnewstar win Waste2Zero award

SWRnewstar has won the Waste2Zero Best Waste Project Communication & Stakeholder Engagement Award in partnership with its customer Bristol Airport.

Defence Secretary checks progress of first City Class Type 26 frigate

The Secretary of State for Defence, Gavin Williamson MP, visited BAE Systems’ Clyde shipyards yesterday to gain an insight into the Company’s next generation digital ship design approach for the Type 26 frigates, before viewing the

Drukair opts for an A320neo

Drukair, the flag carrier of Eastern Himalayan Kingdom of Bhutan, has signed a purchase agreement for one A320neo to support its growth plans and complement its existing fleet of three A319s.

BA appoints Angela Williams as Group People Director

British Airways today announced that Maria Da Cunha, Group HR & Legal Director, is stepping down from British Airways after 17 years and Angela Williams is appointed to the role of Group People Director (joining the business on 4 June

Dnata awarded UK MHRA certification for Good Distribution Practice

Global air services provider and UK ground handler, dnata, has been awarded certification for Good Distribution Practice (GDP) by the UK Medicines and Healthcare Products Regulatory Agency (UK MHRA).

Air & Ground SK1704230718
See us at
SMI HelicopterTBT1402240518FIL18 BT111017220718SMI FAVWSBT1402060618