Eritrean news: A training firm has won a £4.1 million contract with the government of an East African country. Eduteq, of Ashby, will supply Eritrea with equipment and training courses aimed at improving technical skills.
The company will work with the Eritrea government to establish an educational facility in the capital Asmara, as well as another two sites in more remote parts of the country. The facility will train people in skills such as automotive engineering, workshop machinery, welding and carpentry to increase the number of skilled technicians.
Eduteq specialises in emerging markets where investment in industries such as oil and gas requires new training facilities.
The company secured a £2.4 million finance package with HSBC’s Leicestershire Commercial Centre, in Grove Park, Enderby, to support the contract.
Eduteq has also signed two contracts with the Ghanaian government to establish an oil and gas training facility and to develop biology, physics and chemistry labs in 200 secondary schools.
Eduteq’s managing director Andrew Whiteley said the new contracts would help this year’s turnover nearly triple from last year’s £3.5 million and had also resulted in three new jobs.
The firm employs eight people in Charter Point Way, Ashby. Mr Whiteley said: “Export guarantees provided by UK Export Finance allowed HSBC to extend financial coverage for Eduteq. “This has allowed us to work on three projects simultaneously, effectively trebling our capacity.”
Eduteq also benefited from advice from the Government export agency, UK Trade and Investment.