UK agency to spend $135m on Dubai World Trade Centre expansion
Half of the supplies and services used for Phase 4 of Dubai World Trade Centre will be provided by UK companies as UK Export Finance agrees to fund the project
Phase 4 of Dubai World Trade Centre's (DWTC) expansion programme will be funded by a UK government agency.
UK Export Finance (UKEF), the kingdom's export credit agency, provide more than $135.2m (AED496.6m) to build the fourth phase.
DWTC's Phase 4 will include a hotel, in addition to opportunities for UK businesses.
Half of the project's supplies and services are also due to come from the UK.
UKEF is said to have funded the first three phases of DWTC's expansion programme as well.
Dr Liam Fox MP, the UK's International Trade Secretary, said UKEF's support for DWTC was part of a new partnership between the export credit agency and Atkins International.
The UKEF-Atkins partnership is aimed at identifying and promoting opportunities for UK infra and engineering suppliers on UKEF-backed Atkins projects, Arabian Business reported.