UK announces €450m boost for construction exports to Angola
The British government is to offer €450m in UK Export Finance (UKEF) support for firms building three hospitals and upgrading two power stations in Angola.
Firms benefitting from the deal are the UK branch of Dubai-based contractor ASGC, and Paisley-headquartered utility contractor IQA Group. It is the first time the UKEF has supported projects in Angola. In December UKEF made €270m available for a new international airport in Uganda. Baroness Northover, the prime minister’s trade envoy for Angola and Zambia said: “This deal enables a Scottish exporter to enter a global marketplace and deliver reliable power to millions of people in Angola. It also showcases how British expertise can assist the development of vital healthcare services.”
Some €380m will go to a contract between Angola’s Ministry of Health and ASGC. ASGC will lead on the design, construction and equipping of the 300-bed Mother and Child Hospital and Paediatric Haematology Institute in Luanda, and a 200-bed general hospital in Cabinda.
The power station element will be handled by IQA Group. This will involve refurbishing two substations in the town of Viana, on the outskirts of Luanda, and Gabela, about 100km south of it. The UK will guarantee a €70m loan issued to the Angolan Ministry of Finance for the project.
Baroness Northover said: “I have visited Angola regularly in the last two years in support of UK-Angola business co-operation, and am acutely aware of the growing opportunities there. It is wonderful that these important projects have come to fruition and I look forward to seeing more in the future.”