- FileBridges serve both as important connections between communities and as transport link between commercial interests and their markets.
A UNITED Kingdom consortium of Kier International and Mabey & Johnson has secured the 14.9 million pound sterling contract to supply steel flyover bridges in Kingston and Montego Bay, following Export Credit Guarantee Department (ECGD) backing for the projet.
The ECGD backed a 12.1 million pound loan from Citibank NA to help finance the project which will help ease pollution and traffic congestion in Jamaica, the British High Commission (BHC) announced Tuesday.
ECGD, UK's official export credit agency, operates as a separate government department which falls with the portfolio of the Secretary of State for Trade and Industry.
Its main functions are to underwrite bank loans so that overseas buyers can purchase capital and project related goods/services from the UK, and to insure the return on investments made by UK companies in overseas enterprises.
Joint venture
"I am pleased a UK joint venture with ECGD backing has been successful in winning this order. This work will not only benefit the people of Kingston and rural communities in Jamaica, but will also have a positive impact on jobs here in UK," said UK Trade Minister, Richard Carborn.
Mabey and Johnson will supply steelwork needed for six flyover bridges in Kingston and Montego Bay and 20 rural bridges from their two factories in Chepstow Lydney, Gloucestershire. The contract will safeguard 200 UK jobs in Gloucestershire and create 50 in Jamaica, said the BHC.
Kier International will undertake construction of the project under contract from the Ministry of Transport and Works.
Export insurance for Kier and Mabey & Johnson is also being provided through an Export Insurance Policy (EXIP) which protects UK exporters against the main political and commercial risks of not receiving payment from abroad once goods have been shipped or contractual services performed.
