Qatar considering £10-bn investment in UK infrastructure projects
14 Mar 2013
Qatar is considering investing £10 billion in UK infrastructure projects in what would come as a much-needed boost for the economy.
The Middle East state had been in talks with ministers about establishment of a dedicated fund for investing in UK road, rail and energy schemes. Discussions were at a very early stage, with little prospect of any concrete announcements in next week's budget.
The Treasury which is looking to infrastructure to drive growth, does not want to jeopardise the public finances by paying for the projects with state funds, and has met with little success to date in securing private sector investment.
According to analysts, a major commitment from gas rich Qatar could prove transformational in getting building work under way, if a deal could be struck soon.
Qatar has in recent times built strong links with UK, acquiring stakes in Barclays, Sainsbury's and airport operator BAA in recent years. It is also the owner of Harrods and the Shard skyscraper in London through various investment vehicles.
Among the schemes under discussion are the £14-billion nuclear reactor to be built by France's EDF Somerset and the Thames super-sewer.
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