LONDON – Qatar has announced a £1 billion ($1.3 billion) investment in climate technology in the United Kingdom, with engineering giant Rolls-Royce set to be a primary beneficiary of the funding, the British government revealed on Wednesday.
Investment Details
The investment is expected to:
- Create thousands of jobs
- Establish climate technology hubs in both countries
- Support development of climate-friendly technologies
Focus Areas
Rolls-Royce will receive support for technology programs targeting:
- Energy efficiency improvements
- Sustainable fuel development
- Carbon emissions reduction
Broader Context
The investment comes during a two-day state visit by Qatar’s emir, Sheikh Tamim bin Hamad Al Thani, who is meeting with Prime Minister Keir Starmer. Britain is actively seeking to deepen ties with the Gulf state, hoping to secure economic and strategic benefits.
Qatar’s Existing UK Investments
Qatar is already a significant investor in the UK through the Qatar Investment Authority, with holdings including:
- Canary Wharf business district
- The Shard skyscraper
- Stakes in Barclays and Heathrow Airport
Rolls-Royce CEO Tufan Erginbilgic welcomed the partnership, stating that enabling energy transition through lower carbon technologies is a key part of the company’s strategy.
($1 = 0.7890 pounds)
