‘Great to see!’ Truss hails Qatar’s massive 85m investment in key Brexit Britain industry – Express

Qatar has planned to invest 85m into the UK's nuclear power sector. Foreign Secretary Liz Truss today tweeted: "Great to see Qatars new 85m investment in the UK. The Qatar Investment Authority is supporting Rolls-Royce to build mini nuclear reactors, which will:

"Boost a great UK business.

"Create British jobs.

"Help the UK reach its net-zero target."

Mr Mansoor bin Ebrahim Al-Mahmoud, Chief Executive Officer of the Qatar Investment Authority (QIA) spoke of the opportunities of helping the Rolls-Royce Group contribute to low carbon electricity generation.

The QIA claims that it is committed to "sustainable investment".

Mr Mansoor said: QIA is investing in the energy transition and funding the technologies that enable low carbon electricity generation.

"We will continue to seek out investments that align with our mandate to deliver long-term value for future generations through responsible sustainable investments.

In a statement, Rolls-Royce Group described reaching an agreement with Qatar Investment Authority (QIA) "to invest 85 million in Rolls-Royce SMR Limited (Rolls-Royce SMR).

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"We have successfully raised the capital we need to establish Rolls-Royce SMR and it is encouraging to confirm that the business is now set up to succeed.

The Government's Business and Energy Secretary Kwasi Kwarteng was quick to draw attention to the deal with the Qatari group.

He said: This investment is a clear vote of confidence in the UKs global leadership in nuclear innovation and follows the 210 million of government investment in the development in Small Modular Reactors.

It represents a huge step forward in our plan to deploy more home-grown, affordable clean energy - ensuring greater energy independence for the UK, highly skilled jobs and bringing cheaper, cleaner electricity to peoples homes.

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'Great to see!' Truss hails Qatar's massive 85m investment in key Brexit Britain industry - Express