"The agreement, backed by UK Export Finance, will fund the redevelopment of two of Nigeria's largest ports in Lagos, while channelling at least £236 million into British suppliers."
"At the centre of the deal is a £70 million contract for British Steel to supply 120,000 tonnes of steel billets, marking the company's largest-ever export order supported by UKEF."
"Business and Trade Secretary Peter Kyle described the agreement as a 'major win for British Steel', adding that it demonstrates both the strength of UK manufacturing and the deepening commercial relationship between the UK and Nigeria."
"The Nigerian government has framed the investment as a transformative step in modernising its maritime infrastructure and unlocking growth within its 'blue economy'."
A £746 million infrastructure deal between the UK and Nigeria has resulted in a significant export order for British Steel, marking a major boost for UK manufacturing. The agreement will fund the redevelopment of two major ports in Nigeria and channel £236 million into British suppliers. British Steel will supply 120,000 tonnes of steel billets, its largest export order. The deal is seen as a sign of the UK government's Steel Strategy's effectiveness, supporting thousands of jobs in the UK supply chain and modernizing Nigeria's maritime infrastructure.
Read at Business Matters
Unable to calculate read time
Collection
[
|
...
]