LONDON: Abu Dhabi’s Mubadala Investment Company is set to invest around £10 billion ($13.85 billion) into British sciences, technology, energy transition and infrastructure, the Financial Times reported on Thursday, citing a government official briefed on the talks.
The UK Office for Investment and the UAE’s Mubadala Investment Company are expected to sign an expansion of the Sovereign Investment Partnership (SIP), British PM Boris Johnson’s press office said in a statement.
The agreement comes as Johnson hosts Sheikh Mohammed Bin Zayed Al-Nahyan, Abu Dhabi’s crown prince, for a bilateral meeting at Downing Street on Thursday.
Additional investments likely to be announced include a £500 million investment in British fibre broadband operator CityFibre for the rollout of high-speed broadband in the country, the statement added, with the investment being a part a larger CityFibre capital raise.
In March, Abu Dhabi state investor Mubadala Investment had signed a deal with UK to invest £800 million in life sciences and healthcare development projects.