UK firms ready for Dubai mega projects

dubai — British 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.

The announcement comes as the government has launched a new initiative bringing together the UK’s leading companies from the infrastructure industry with government in a new partnership to help British firms secure major international contracts.

Carillion and Kier will both deliver new housing, a major stadium complex and one of the emirate’s biggest office developments. Specifically, 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 $455 million (Dh1.67 billion) for Kier to carry out the projects.

Carillion, which is also a Queen’s Award winner, will design and build the latest phase of One Central, the 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 $180 million (Dh661 million).

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,” he added.

Sean Fenner, managing director of Kier International, said: “The Dubai Arena and Nshama residential developments are remarkable projects that will transform Dubai’s entertainment and accommodation sectors respectively.”

Zafar Khan, group finance director at Carillion, added: “Winning high-quality contracts with the support of UK Export Finance is central to our strategy in the Middle East.”

— business@khaleejtimes.com

Dh2.3b total UKEF support for Carillion and Kier