A deal supported by the UK Government’s export credit agency has landed a £4.5 million export contract for structural steel firm Severfield. Headquartered in York, the company has five manufacturing sites in the UK and two in mainland Europe and operates in a range of sectors including infrastructure, transport, and commercial, working on high-profile projects such as Tottenham Hotspur Stadium, 22 Bishopsgate, and London’s tallest building, The Shard.

In 2021, UK Export Finance (UKEF) helped the Guyanese government to finance a new paediatric and maternity hospital by providing a €161 million loan. The export credit agency supported the project on the condition that it involved UK suppliers, subsequently securing this opportunity for Severfield.

Since securing the contract, Severfield has fabricated steel for this project at its Dalton site in North Yorkshire, where it is a major employer supporting over 500 jobs. The company has now shipped 1,900 tonnes of structural steel to Guyana where it will be used by VAMED Engineering GmbH as it builds the new hospital in the capital, Georgetown.

UKEF’s guarantees and loans help overseas governments and businesses to secure financing for projects involving UK goods and services. The new announcement showcases the way in which this creates multi-million-pound contract opportunities for the domestic supply chain. Since 2020, UK suppliers have secured over £1.3 billion in new contracts because of infrastructure projects going ahead thanks to UKEF support.

Great news
Lord Offord, Minister for Exports, said: “The UK Government is backing the UK steel industry, and this deal, made possible by UKEF, is great news for Severfield which will support hundreds of jobs across the country. Severfield’s story shows that the UK’s steel expertise remains in high demand for ambitious projects around the world, supporting jobs, growth and prosperity.

Rob Evans, managing director of Severfield’s Commercial and Industrial division, said: “We are delighted to be supplying the structural steelwork for the new paediatric and maternity hospital in Guyana. With the invaluable support of UKEF, Severfield is proud to add to its strong and varied history of delivering high-quality, fabricated steelwork for use in overseas projects.”

Upon completion, the hospital is expected to become a point of referral for high-risk cases from across the country and eventually the Caribbean. It will also work as a teaching hospital — the first institution of its kind available in Guyana.

Jane Miller, British High Commissioner to Guyana, said: “It is great to see another contribution from the UK towards the delivery of this transformational, 256-bed hospital in Georgetown. This is a success which we want to build on, with UKEF now making up to £2 billion available for supporting UK exports to Guyana. This reflects the wealth of opportunities for collaboration available in Guyana’s rapidly growing economy.“