Tuesday, March 28, 2017

Qatar to pump $6.2bn into UK infrastructure projects

Qatar is set to invest £5 billion ($6.24 billion) in Britain over the next three to five years, thus underscoring the country’s commitment to the UK despite economic uncertainties relating to Brexit, according to a report.

The key sectors of infrastructure, real estate and energy will be targeted in its new investment plan, reported the Qatar News Agency, citing a top minister.

"Qatar is already a top investor in the UK, having invested more than £40 billion across the country," remarked Sheikh Abdullah bin Nasser bin Khalifa Al Thani, the Prime Minister and Minister of Interior.

He was speaking at the Qatar-UK business investment forum in London, which brings together more than 400 British and Qatari business leaders and senior politicians.

Qatari Finance Minister Ali Sharif Al Emadi was upbeat on the future of British economy and indicated that he was unperturbed by the possible implications of the country’s splitting from the EU.

The country already has a stake in Canary Wharf in the capital's Docklands, as well as an interest in the Milford Haven liquefied natural gas terminal in South Wales. It also bought the Olympic Village following the London 2012 Olympics, reported BBC.

"Currently the UK is our first investment destination and it is the largest investment destination for Qatari investors, both public and private," added Al Emadi.

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