and posted in Technology

The UAE is investing 500 million pounds ($690 million) in British company CityFibre to provide high-speed broadband optical fibers, according to a British government statement, as the Crown Prince of Abu Dhabi visits London.

The statement issued by the office of British Prime Minister Boris Johnson stated that the investment in the group specialized in digital infrastructure is part of a plan to increase its capital. During the visit of Sheikh Mohammed bin Zayed Al Nahyan, Mubadala Investment Company, one of Abu Dhabi’s sovereign funds, intends to expand the investment partnership that was agreed upon earlier this year.

DP World is also investing about 300 million pounds in the fourth berth in the port of “London Gateway”.

This month, the UAE announced that it was seeking comprehensive economic agreements with countries with high growth potential, including Britain after its exit from the European Union. Johnson’s office statement revealed that the UAE and Britain are focusing on investments in life sciences, technology, energy transformation and infrastructure across Britain.