Arab News, Saturday, Sep 18, 2021 | Safar 11, 1443
UAE to announce $13.8 billion investment expansion across Britain
Emirates:
Abu Dhabi’s Mubadala
Investment Company is set to invest around £10 billion ($13.85 billion) into
British sciences, technology, energy transition and infrastructure, the
Financial Times reported on Thursday, citing a government official briefed on
the talks.
The UK Office for Investment and the UAE’s
Mubadala Investment Company are expected to sign an expansion of the Sovereign
Investment Partnership (SIP), British PM Boris Johnson’s press office said in a
statement.
The agreement comes as Johnson hosts Sheikh
Mohammed Bin Zayed Al-Nahyan, Abu Dhabi’s crown prince, for a bilateral meeting
at Downing Street on Thursday.
Additional investments likely to be announced
include a £500 million investment in British fibre broadband operator CityFibre
for the rollout of high-speed broadband in the country, the statement added,
with the investment being a part a larger CityFibre capital raise.
In March, Abu Dhabi state investor Mubadala
Investment had signed a deal with UK to invest £800 million in life sciences and healthcare development projects.