British Steel has won a new contract to supply rails to a Finnish company, on the 10th anniversary of rail production at its Scunthorpe site.
The company said the Finnish Transport Agency (FTA) had decided to use rails made by British Steel for the sixth consecutive year.
Peter Smith, British Steel's managing director of rail, said: "This is an important contract for us in a very competitive market place.
"The full contract will be split 50/50 between British Steel and another supplier, with our half of the contract seeing 5,500 tonnes of steel being delivered by April 2017.
"This will be produced at our Scunthorpe Rail and Section Mill, which is now 10 years old.
“The first deliveries will be made to the FTA over the coming weeks and the fact they have chosen us again is testament to the high standards we set.
"This is a major exporting contract for one of our target markets and it comes as a boost against strong European competition."
Gareth Stace, director of UK steel at industry body EEF, added: “This is excellent news for British Steel in a competitive market place.
"Contracts like this demonstrate the esteem in which steel manufactured in the UK is held throughout the world, and show just how important the steel industry is to the UK – at home and abroad.”
The news has also been welcomed closer to home by cllr Baroness Liz Redfern, leader of North Lincolnshire Council, who praised the impact it’ll have on the regional economy.
Cllr Redfern said: “This is brilliant news for British Steel and residents in North Lincolnshire.
"The steelworks is a major part of North Lincolnshire, so to have investment on this scale will make a real difference. It shows great confidence in what the steelworks is doing.
“Not only is this new contract to supply rails for Finnish Transport Agency beneficial for British Steel and its future; it will have a positive effect on the local economy.
“British Steel also recently announced a number of job vacancies at the Scunthorpe site, which is a brilliant opportunity for people in North Lincolnshire to get into employment.
“British Steel plays a huge part in putting North Lincolnshire on the map as a place to invest and do business.
“We are fully committed to supporting British Steel and we want to ensure, where possible, construction companies use British Steel.”