Bothar Boring & Tunnelling is a Brisbane-based engineering services company that’s no stranger to overseas markets.
It has built a significant business in Australia and the Middle East installing and fixing underground facilities for water, gas, sewage and housing cables.
When Bothar won new drilling contracts with Australian Pacific LNG and Gladstone GLNG to produce liquefied natural gas for export, it required additional working capital to fulfil these opportunities.
Bothar’s principal financer was very supportive but was unable to provide all the funding it needed.
We worked closely with Westpac to give Bothar the additional working capital it needed for the two natural gas contracts.
We also supplied a bank guarantee for a separate micro-tunnelling construction contract in Kuwait.
“Bothar has strong turnover and a solid pipeline of work and we’re pleased to provide the financial support it needs to grow its business worldwide,” said Efic’s Andrew Watson.