Lagan to develop £246m business park in Uganda
Lagan is to develop a $246million business park in Uganda in a boost to the Northern Irish company.
It was confirmed at the UK-Africa Investment Summit in London recently that the Government of Uganda has secured a £185million loan from the UK Government to support the delivery of the project, which will be implemented by businessman Kevin Lagan’s group of companies.
Ugandan President Museveni joined African leaders and delegations from 20 other countries attending the Summit, which was hosted by Prime Minister Boris Johnson.
Further development of the Kampala Industrial Business Park – supported by the Government’s UK Export Finance (UKEF) department and spearheaded by Lagan – will create employment opportunities for 200,000 people in Uganda.
Support from UK Export Finance, the Government’s export credit agency, has been vital in helping UK exporters gain a foothold in Africa.
UKEF has provided close to £2 billion of government-backed export finance support for UK exporters in Africa since 2018, helping to secure UK business for infrastructure projects across Africa.
This announcement is a major project for construction entrepreneur Kevin Lagan’s group of companies with experienced staff, materials and equipment to be sourced in Northern Ireland.
Lagan has partnered with Ugandan company DOTT Services for the upgrade, which will see the construction of improved infrastructure including roads, water, electricity waste treatment facilities, sewerage and drainage networks and optic fibre networks.
Estimates suggest that the project will create over 200,000 jobs in the long term.
Following the landmark sale of the materials part of his business to Breedon plc for £455m in April 2018, Kevin Lagan has developed targeted and sustainable growth of his retained companies.
Caption: Ribbon Cutting by Lagan Group, Hon Wamala, UK Minister for Africa Andrew Stephenson, Hon Evelyn Anite and H.E Peter West British High Commissioner at Namanve Industrial Park