21 November 2018
Inward investment into the UK is boosted by Airbus and Eutelsat orders. Plus, Equinix’s total investment this financial year of £295 million is a “vote of confidence” in London’s future as a premier financial hub.
The UK government’s Industrial Strategy has received a double boost with European orders being received for communications satellite components and an announcement of a major expansion of offshore wind blade expansion.
Airbus and Eutelsat announced the order on Monday to manufacture satellite components at sites in Portsmouth and Stevenage in a deal said to be worth hundreds of millions of pounds.
Meanwhile, the expansion of manufacturing offshore wind blades at MHI Vestas on the Isle of Wight was announced on Tuesday in a move predicted to create more than a thousand jobs directly at the factory and in the supply chain.
Prime Minister Theresa May, in a speech to the Confederation of British Industry (CBI) annual conference this week, also revealed that Equinix was to invest a further £90 million in a new data centre to service growing demand for digital financial services in the City of London.
Mrs May said Equinix’s total UK investment in this financial year stood at £295 million, which she described as “a vote of confidence in (London’s) future as the world’s premier financial hub”.
The prime minister added, “When I first became prime minister I immediately identified the need for government to step up and be much more engaged in shaping our economy to be ready for the challenges of the future – and so we set about developing our new Modern Industrial Strategy.