Government backing helps Norfolk boatbuilder win offshore wind contract

With the new capital, Alicat will be able to build two workboats worth almost £1 million each for export to a client in Turkey.

Both workboats will be manufactured in Great Yarmouth, Norfolk, using 100% British materials.

To be deployed from a 90-m vessel, the boats will be used to undertake installation and maintenance on an offshore windfarm.

Alicat Workboats general manager Simon Coote said, “With the support of the UKEF Export Team and Virgin Money, Alicat Workboats was able to secure financing using the UK Export Finance guarantee scheme.

“This in turn allowed Alicat to secure the build of two new vessels for a major shipbuilder in Turkey and provide 12 months of secured work in our Yard in Great Yarmouth, allowing us to maintain local employment and training opportunities for the next generation of boat builders.”

Virgin Money provided the facility, which is backed by a UKEF guarantee offered through its General Export Facility (GEF) product.

UKEF export finance manager Richard Hill said, “It is great to be able to help Alicat Workboats to secure this new business and achieve UKEF’s key goals to maintain and grow local employment and support the transition to renewables, with energy being a key part of the Norfolk economy. We are keen to help local businesses.”