UAE to invest 40 billion euros in Germany
The United Arab Emirates is to invest 40 billion euros ($46.5 billion) into Germany, Berlin said Thursday, including on data centres with a capacity of about one gigawatt.
"The two leaders welcomed the announcement of a UAE investment package totaling 40 billion euros in Germany," Berlin said in a statement, referring to German President Frank-Walter Steinmeier and UAE President Mohamed bin Zayed Al Nahyan.
"The package includes investments in advanced digital infrastructure, including the development of new state-of-the-art data centres", it added.
Germany and the UAE would further set up an "Investment Council" to boost investment between the two nations, Berlin said.
The Gulf is a key source of capital for the AI-boom as oil rich states in the region seek to invest their energy wealth.
"The UAE invests for the long term and builds partnerships that endure," UAE Industry Minister Sultan Ahmed Al Jaber said.
"Germany has been an important strategic and economic partner for decades and the additional 40 billion euros intended investment reflects our ambition to invest in that relationship."
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