January 6 - A joint venture created in 2015 between Osprey Maritime and the Allelys Group has secured a GBP7.5 million (USD9.3 million) financial package from HSBC.

Osprey Heavy Lift has secured an equipment finance loan, which will be used to fund the purchase of specialist cranes and lifting equipment.

According to HSBC, this will include a 750-tonne LG1750 wheeled lattice boom crane with a maximum lifting height of almost 200 m.

The funding will also be used to acquire a slightly smaller LG1550 crane and 110 axle lines of self-propelled modular transporters (SPMT).

Nigel Fletcher, Osprey Maritime Group managing director, added: "This deal and the development of Osprey Heavy Lift marks a major milestone in the future of our and Allelys' businesses. The team from HSBC worked quickly to get to grips with our joint venture and provide the finance we needed to purchase the equipment which will allow us to tender for major civil construction projects such as HS2."