DUBAI, Sept 16 (Reuters) - The United Arab Emirates plans to
invest 10 billion pounds ($13.8 billion) in Britain over the
next five years, building on the two country's long-running
business ties, an Abu Dhabi sovereign wealth fund said on
Thursday.
The fund, called Mubadala, said the investment in Britain's
energy transition, infrastructure, technology and life sciences
industries marked an expansion of its Sovereign Investment
Partnership with Britain's Office for Investment.
The announcement was made as the UAE's de facto ruler, Abu
Dhabi Crown Prince Mohammed bin Zayed Al Nahyan, was in London
visiting British Prime Minister Boris Johnson.
"Today's expansion of our Sovereign Investment Partnership
will help accelerate funding and innovation in key sectors that
are foundational to economic growth of both nations," Mubadala's
Managing Director Khaldoon Mubarak said in a statement.
Mubadala in March agreed to invest 800 million pounds in
life sciences with Britain's investment office, which said it
was contributing an additional 200 million pounds.
Since then, over 1.1 billion pounds have been deployed,
Mubadala said.
($1 = 0.7230 pounds)
(Writing by Alexander Cornwell
Editing by Mark Potter)