A Nottingham technology company has secured a £300m deal to build a thermal energy-from-waste facility in the United Arab Emirates.
The work by Chinook Sciences is expected to create about 200 British jobs and secure another 650, Trade Minister Lord Livingston has announced.
About half of the new jobs will be in the East Midlands.
Jon Smart, from Derbyshire and Nottinghamshire Chamber of Commerce, said the economy was “in a good place”.
Mr Smart said: “We””ve obviously had the sad news about Imerial Tobacco recently and just this week about the Lace Market Hotel closing its doors, and the job losses there.
“So it just goes to show that there are these new innovative high-tech companies coming along creating jobs and picking up some of that slack.
“So I think the economy is in a really good place at the moment.”
The company, formed in 1998, has developed technology to transform discarded waste material into energy.
Lord Livingston said Chinook Sciences was a “great example” of a UK company expanding beyond domestic markets.
“Our medium-sized businesses have the potential to be economic powerhouses for the UK,” he said.
“Their success is dependant on expanding beyond domestic markets.”
The work was awarded by Bee””ah, and environmental and waste management company, and the facility will be built in the Emirate of Sharjah.
The two companies were introduced to each other by UK Trade & Investment.
The deal is also expected to benefit Chinook””s supplier base of 440 companies, which represent every UK region.
Key suppliers expect their revenues to more than double over the next few years as a result of Chinook””s projects, with a substantial addition of new jobs, Lord Livingston said.