Nybergs Svets Expands to Guyana with Steel Deal Amid Swedish Slowdown

Faced with a softening Swedish construction market, Nybergs Svets is strategically expanding into exports with a significant steel contract for a hospital project in Guyana. The Alingsås-based subcontractor, established in 1914 and employing nearly 50 individuals, will supply 1,500 tons of steel structures for a new, state-of-the-art general hospital in New Amsterdam. This contract represents Nybergs Svets' initial foray into export markets beyond the Nordic region, where it has traditionally concentrated its operations. "Investing in exports is a natural progression in diversifying our business," stated CEO Patrik Wallin. The 230-bed hospital will feature three operating rooms, advanced X-ray technology, laboratories, and a pharmacy. The opportunity arose following an inquiry from Elof Hansson International AB, now a division of Serneke International Group, which sought Swedish suppliers to leverage financing options through the Swedish Export Credit Agency (EKN) and the Swedish Export Credit Corporation (SEK). Nybergs Svets, which previously completed smaller projects in Norway, secured the contract through an advance payment from the developer and a guarantee from EKN. The hospital is being constructed in Guyana, recently recognized by the International Monetary Fund (IMF) as one of the world's fastest-growing economies. Wallin emphasized the importance of this milestone, noting, "We now possess the requisite experience to pursue similar projects in the future."