The Financial Times has reported that officials and ministers from the United Kingdom and the Kingdom of Qatar have been in talks over recent weeks about the possibility of Qatar investing up to £10 billion ($15 billion) in key infrastructure projects around the UK.
The projects that Qatar would consider for investment include power plants, such as a new £14 billion nuclear reactor in Somerset, transport projects, such as improvements to road and rail networks, and the Thames ‘super-sewer’ project.
Mike Penny, the former Under Secretary of State for Transport, believes that significant investment in road, rail, and aviation infrastructure would help the UK, not only for the fact that it would shoulder the burden of funding, but also as a sign to people that the UK is moving forwards, building confidence in its economy.
“We are looking for investment. The more joint partnerships and the more outside investment people see coming into the UK, the more confidence there is in the UK economy.”
Qatar, wealthy off the back of its vast natural gas reserves, has recently invested in various British assets, including 80% of The Shard, Western Europe’s tallest building, Harrods, and the US Embassy.
By. Joao Peixe of Oilprice.com
Joao is a writer for Oilprice.com