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London announces almost 30 billion pounds of private investment

Nearly 29.

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London announces almost 30 billion pounds of private investment

Nearly 29.5 billion pounds (34 billion euros) of new private investment in the United Kingdom. This was announced by the British government in London at the launch of the second edition of a summit bringing together multinationals and investors.

The investments are in “projects in technology, life sciences, infrastructure, housing and renewable energy – creating thousands of new jobs and driving growth across the country,” the government argued in a press release. “Attracting international investment is at the heart of my economic growth plan,” assured British Prime Minister Rishi Sunak, quoted in the press release. Among the investments announced on Monday are 10 billion pounds from the Australian fund IFM Investors “in large-scale infrastructure and energy transition projects over the next four years”. The Spanish energy company Iberdrola, for its part, announced 7 billion pounds of investments for 2026-2028, after already several billion previously announced, notably on offshore wind projects and electricity transmission and distribution infrastructure. The American giant Microsoft plans to invest 2.5 billion pounds in infrastructure linked to Artificial Intelligence (AI), particularly data centers. The German BioNTech laboratories will invest around 1 billion over ten years, including “a new laboratory in Cambridge and a center of expertise for AI in London”.

Also read: Germany, Netherlands, United Kingdom… These countries slowing down the green transition

The announcements come as Japanese car giant Nissan said on Friday it would inject up to two billion pounds to build two new electric car models and an additional battery gigafactory in the UK. During a budget presentation last Wednesday, British Finance Minister Jeremy Hunt also dedicated 4.5 billion pounds to aid for strategic industrial sectors, including the automobile, aerospace, green energies and sciences. of life in particular. “The £29.5 billion pledged today is another huge mark of confidence in our dynamic, business-friendly and highly innovative economy,” said British Trade Minister Kemi Badenoch, quoted in the press release. government.

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