Starmer Secures Italian Investments for UK's Defense and Steel Industries

British Prime Minister Keir Starmer announced that Italian firms, including Leonardo and Marcegaglia, will invest over 500 million pounds in the UK. This includes significant funding for helicopter production in Yeovil and a new clean steel furnace in Sheffield.

British Prime Minister Keir Starmer announced on Monday that Italian companies, such as defense firm Leonardo, will invest more than 500 million pounds ($660 million) in the UK following meetings with business leaders during his Rome trip.

The British government disclosed that Leonardo will invest 435 million pounds into its Yeovil site in southwest England, focusing on helicopter manufacturing and research across the UK. Additionally, steel manufacturer Marcegaglia is set to invest 100 million pounds in Sheffield, northern England, to establish a new clean steel electric arc furnace, according to Starmer.

(Conversion rate: $1 = 0.7577 pounds)

(With inputs from agencies.)