Carillion PLC Re Contract (5810T)
October 07 2014 - 2:00AM
UK Regulatory
TIDMCLLN
RNS Number : 5810T
Carillion PLC
07 October 2014
7 October 2014
Chancellor of the Exchequer announces Carillion will be the
first company to benefit from UK Export Finance's new Direct
Lending Facility
The Chancellor of the Exchequer, George Osborne, has announced
that Carillion will be the first company to benefit from the new
Direct Lending Facility, which is being provided by UK Export
Finance (UKEF) to boost UK exports.
Under the Direct Lending Facility, HM Treasury has made GBP3
billion available to support export finance on a first come, first
served, basis that enables UKEF to provide funding at the
Commercial Interest Reference Rate with partner banks arranging
loans.
Carillion already has a strong relationship with UKEF, having
secured a number of contracts in the Middle East and North Africa
with the support of UKEF's Standard Buyer Credit Facility. The
latest contract to be secured with the support of UKEF is a GBP75
million contract to deliver Phase 1 of the Dubai World Trade Centre
District development for the Dubai World Trade Centre, using UKEF's
new Direct Lending Facility with the loan being arranged by
Deutsche Bank.
The contract involves the construction of a 146,000 square metre
development between the current Dubai International Convention and
Exhibition Centre and Emirates Towers in the heart of the city's
Central Business District that will include an eight storey office
building and a 588-room business and tourism hotel. The development
will be designed to best-in-class quality standards and Phase 1
will include international Grade A quality offices, which have
achieved LEED(R) Gold pre-certification from the US Green Building
Council - the industry benchmark for green building performance
covering design, construction, operations and maintenance. The
technology solutions and infrastructure being planned align with
the Dubai Government's Smart City strategic agenda.
Commenting, Chancellor of the Exchequer, George Osborne said:
"Helping British companies to access global markets is a key part
of our long term economic plan. So I'm delighted to announce the
first deal supported by UK Export Finance's Direct Lending
Facility, along with the twenty financial institutions that are
going to help us deliver the loans.
"It is great to see successful companies like Carillion winning
contracts around the world. This deal, the first in a pipeline of
many will help us reverse the age old trend of not exporting
enough, boosting growth and creating jobs."
Carillion Chief Executive, Richard Howson, added: "We have built
a strong relationship with UKEF, which is helping companies like
Carillion to use its sector-leading expertise and reputation for
quality, reliability and safety to win major contracts. The new
Direct Lending Facility is an exciting development, which will
further enhance our ability to use Carillion's world-class skills
to compete and win contracts in our international markets."
Notes to Editors - Carillion
Carillion is a leading integrated support services company with
a substantial portfolio of Public Private Partnership projects and
extensive construction capabilities. The Group had annual revenue
in 2013 of some GBP4.1 billion, employs around 40,000 people and
operates across the UK, in the Middle East and Canada.
The Group has four business segments.
Support services - this includes facilities management,
facilities services, energy services, utility services, road
maintenance, rail services and consultancy services.
Public Private Partnership (PPP) projects - this includes
investing activities in PPP projects for Government buildings and
infrastructure, mainly in the Defence, Health, Education, Transport
and Secure accommodation sectors.
Middle East construction services - this includes building and
civil engineering activities in the Middle East.
Construction services (excluding the Middle East) - this
includes building, civil engineering and developments activities in
the UK and construction activities in Canada.
This and other Carillion news releases can be found at
www.carillionplc.com
For more information
John Denning, Director Group Corporate Affairs, Carillion plc +
44 (0) 1902 316426
Finsbury
James Murgatroyd or Gordon Simpson +44 (0) 207 2513801
This information is provided by RNS
The company news service from the London Stock Exchange
END
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