UK government, industry to invest over £1.1 billion in maritime sector

[LONDON] Coastal communities across the UK are set to benefit from over £1.1 billion (S$1.92 billion) in joint government and industry investment for the maritime sector, the UK government said on Monday.

The investment will unlock growth and jobs in coastal communities across the UK, the government said, including in the engineering, green technology and construction sectors.

The funding includes £700 million of private investment in major UK ports and £448 million of public investment to reduce emissions from UK shipping.

It will be formally announced on Sep 15, the first day of London International Shipping Week.

“We’re committing almost half a billion to cut carbon emissions from shipping - steering us towards net zero by 2050,” said UK Transport Minister Heidi Alexander. REUTERS