£30m boost helps JDR Cables brings jobs and growth to Northumberland

JDR Cable Systems, a subsea cable supplier and service provider, has won new contracts and is set to grow further thanks to the UK Export Finance (UKEF) guarantee.

With the support of the guarantee, backed by HSBC UK, Societe Generale and Bank Gospodarstwa Krajowego, the company is well-positioned to expand its global operations.

Monika Cupiał-Zgryzek, chief executive officer at JDR, said: “We are proud to be at the forefront of the global renewable energy transition. The support from UK Export Finance is pivotal in enabling us to expand our operations and meet the growing demand for high-quality, high-voltage subsea and land cables.”

This is the third occasion where UKEF’s backing has supported JDR in securing more overseas contracts. In 2015, UKEF issued guarantees to help JDR grow its pipeline of export projects.

A £100 million working capital loan was then agreed in 2022 – financed by the same consortium of lenders as this new guarantee – to support the construction of a state-of-the-art submarine cable production facility.

This is due to create 171 jobs in the East Sleekburn, Cambois, and Blyth areas, while supporting the broader UK supply chain and local apprenticeships.

Once complete, the facility will be the first one in the UK capable of full start-to-finish manufacturing of high-voltage and extra-high voltage subsea and land cables for offshore and onshore wind farms, supporting the growing global renewable energy market.