Italian Investments Pour into UK's Defence and Steel Sectors

British Prime Minister Keir Starmer announced that Italian companies, including Leonardo and Marcegaglia, will invest over 500 million pounds in the UK. Leonardo will invest 435 million pounds in its Yeovil site and nationwide research, while Marcegaglia plans a 100 million pound clean steel electric arc furnace in Sheffield.

During a visit to Rome, British Prime Minister Keir Starmer revealed that Italian firms are set to inject over 500 million pounds into the UK economy.

Among the major contributors, defence firm Leonardo is committing 435 million pounds towards its Yeovil site and research projects across the nation. This substantial investment will enhance the production of helicopters and foster innovation in the UK.

Additionally, steel giant Marcegaglia will allocate 100 million pounds to establishing a new clean steel electric arc furnace in Sheffield, a development poised to revolutionize steel manufacturing in northern England.

(With inputs from agencies.)