Boris Johnson will announce 18 new trade and investment deals worth £ 9.7 billion
The Prime Minister of United Kingdom (U.K.) – Boris Johnson will today, i.e., Tuesday, October 19, 2021, announce 18 new trade and investment deals worth £ 9.7 billion in the opening of Global Investment Summit in London.
These new investments will create 30,000 new job opportunities. The 18 new trade and investment will support growth in vital sectors such as wind and hydrogen energy, sustainable homes and carbon capture and storage.
It comes at a time when Department for International Trade is launching a new Investment ‘Atlas’, an online platform designed to help international investors identify and execute high priority investment opportunities in England, Scotland, Wales and Northern Ireland. The Atlas will highlight 53 strategic investment opportunities across the U.K., each with a strong sustainability element aligned with the key themes set out in the Prime Minister’s 10-point plan.
Johnson will open the Summit alongside International Trade Secretary – Anne-Marie Trevelyan. He will also take part in a panel discussion with Bill Gates on the global energy transition and role of the private sector in tackling climate change.
Speaking on the occasion, Johnson said, “The world’s top investors have seen the massive potential in the UK for growth and innovation in the industries of the future. The fantastic £9.7 billion of new investment we have secured today will power our economic recovery, creating thousands of jobs and helping to level up across the country.”
Taking it to twitter, Johnson tweeted,
The world’s top investors have seen the massive potential in the UK for green growth and innovation.
— Boris Johnson (@BorisJohnson) October 19, 2021
This £9.7 billion of new investment will power our economic recovery, creating thousands of jobs and helping to level up across the country: https://t.co/FpDxu4bRDW pic.twitter.com/Zp4G9M9pSU
Sharing her thoughts, Anne-Marie Trevelyan said, “The UK is the best investment destination in the world and our Investment Atlas will help to drive more investment into green industries across the UK and make it easier for businesses to make decisions on where and what to invest in”.
As part of the new investment committed today, Spain’s leading electric utility company – Iberdrola will invest £ 6 billion in the East Anglia Hub through Scottish Power, subject to securing planning consent and a Contract for Difference. This will be Iberdrola’s biggest offshore wind development anywhere in the world and would supply enough green energy to power 2.7 million British homes, while creating 7,000 jobs.
Global logistics firm Prologis will invest £ 1.5 billion over the next 3 years to develop net zero carbon warehouses across London, the South-East and Midlands, supporting around 14,000 new jobs. Viridor, owned by United States (U.S.) firm – KKR will invest upto £ 1 billion into cutting-edge decarbonisation technology across 5 of their U.K. sites, creating 1,180 jobs. Eren Paper, owned by Turkish conglomerate – Eren Holding will invest £ 500 million to acquire a mill in Shotton, North Wales, and convert it to produce cardboard manufactured from paper waste. The mill will be powered by biomass fuel and the investment is expected to create around 300 new jobs.
This new investment is in addition to Johnson’s £ 5.8 billion commitment to sustainable projects launched in Ten Point Plan in November 2020. Besides, the Government will also launch the Net Zero strategy this week, setting out how the U.K. will deliver on its commitment to reach net zero emissions by 2050.
