Riyadh – Sharikat Mubasher: Keir Starmer, British Prime Minister said that his country is looking forward to boosting the green energy relationship between the UK and Saudi Arabia.

He further added in an interview with Al Eqtisadiah that the Oxford-based private equity fund HYCAP is supporting Saudi Arabia’s plans to reach net zero emissions by 2060.

In this context the HYCAP will be investing £785 million to develop hydrogen mobility clusters in Northern Ireland and across the UK, creating more than 1,000 jobs.

The project will deliver hydrogen buses, trucks, critical components and other elements of hydrogen production and distribution, while removing more than 25 million tons of transport-related CO2 over the lifetime of the project.

Worth mentioning that recent British deals with Saudi Arabia and the UAE have created 4,000 new jobs in Britain especially in this particular sector of green energy.

Trade between the UK and Saudi Arabia has seen robust growth in recent years, with bilateral trade valued at £14 billion annually. The UK is a key exporter to the Kingdom, supplying machinery, vehicles and pharmaceuticals, while Saudi Arabia exports crude oil, petrochemical products and significant investments in non-oil sectors.