British steel manufacturer British Steel has announced that the company has received one of its largest export orders, worth £70 million, for port redevelopment projects in Nigeria.
British Steel said an agreement had been signed with Hitech Construction Africa Ltd, which will be the contractor for the Tin Can Island and Lagos Apapa port complex redevelopment project. Under the contract, British Steel will supply a total of 120 thousand tons of billets, which will be used in the production of building materials for modernization work.
The company noted that the supplied material will consist of 140 mm thick reinforcing billets, deliveries are scheduled for this spring and will continue for three years.
One of the largest billet orders in the company's history
British Steel highlighted that the deal represents one of its largest billet orders ever, as well as the largest order supported by UK Export Finance, highlighting the role of government funding in facilitating international trade. The manufacturer added that the agreement follows the signing of a memorandum of understanding last year and was officially announced at a ceremony held in London.
British Steel said it would increase steel production at its Scunthorpe plant to meet order requirements, indicating an increase in operations at the plant.
