Home Business NewsBusiness More power to Qatar as it eyes further £10bn investment in UK infrastructure

More power to Qatar as it eyes further £10bn investment in UK infrastructure

by LLB Editor
14th Mar 13 11:18 am

It might own Harrods, the Shard and even a stake in Heathrow airport owners BAA, but for the Qataris that’s simply not enough.

The Middle East state is now believed to be in talks with UK ministers to stump up £10bn for UK road, rail and other infrastructure projects.

The FT reports that Qatar is keen to fund EDF’s £14bn nuclear reactor at Hinkley Point in Somerset since UK firm Centrica opted out last month.

Back in January, David Cameron hosted a reception at Downing Street with the Emir of Qatar and the Qatari Prime Minister as guests of honour and is known to have discussed the matter.

The news comes following a string of initiatives which have been announced in a bid to boost infrastructure projects in the UK. In 2011, the Government unveiled its National Infrastructure Plan to raise £20bn from private sector investors.

Last July, the Government also announced pumping £40bn into infrastructure projects. However, the only project to get a go ahead so far is the £1bn Northern Line underground extension to Battersea.

George Osborne is additionally expected to announce Britain’s open to overseas investment in the upcoming budget.

What Qatar owns in Britain

1. Harrods

2. The Shard

3. One Hyde Park, the world’s most expensive block of flats.

4. A 20% stake in the London Stock Exchange

5. Part of Canary Wharf through its majority holding in Songbird Estates plc.

6. Camden Market, in which they own a 20% stake.

7. The Olympic Village.

8. Stakes in VW-Porsche, LVMH, Credit Suisse

9. Major investors in Sainsbury’s and Barclays bank

10. Liquefield Natural Gas, Britain’s biggest supplier

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