Business & Economy

Qatar to invest $5 billion dollars in Spain

Madrid, May 18 (EFE).- Qatar plans to invest some $5 billion dollars in Spanish projects, the Gulf state’s Emir, Sheik Tamim bin Hamad Al Thani, confirmed Wednesday on his second day of a visit to Spain.

Al Thani met with prime minister Pedro Sanchez at the Moncloa Palace in Madrid where the two leaders signed several agreements aimed at strengthening bilateral ties.

The Emir had already made the announcement of a $5 billion dollar investment at a dinner at the Royal Palace hosted by King Felipe VI on Tuesday evening.

While the agreement did not specify what areas the funds would be invested in, the deal entails special collaboration in sectors such as new technologies, energy, biotechnology, health and life sciences, agro-technology, water as well as renewable energies.

“Qatar trusts Spain because our economy is robust,” Sanchez said in a speech.

The leaders also committed to a “stable and fruitful” cooperation in the energy and gas sector. Qatar is one of the main gas suppliers to Spain. EFE


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