UK and Spain Secure £240M Investment and 600 Jobs from Exolum and Indra Group
The UK and Spain have agreed on a £240 million investment from Exolum, enhancing fuel storage and energy security. Chancellor Rachel Reeves aims to strengthen economic ties during her visit to Madrid, meeting with Spanish businesses and announcing job creation by Indra Group. The partnership seeks to simplify travel for UK service professionals and bolster trade, contributing to the UK's economic growth.
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Chancellor Rachel Reeves secured a £240 million investment from Spanish company Exolum to bolster the UK's fuel storage and energy security. During her visit to Madrid, she announced plans for Exolum's capital investment in UK infrastructure projects, which is expected to support jobs until 2030.
Additionally, Indra Group, a leader in defense and transport, will create 600 jobs in the UK following a seven-year contract valued at £587.6 million to operate TfL's ticketing system. The Chancellor's visit aims to enhance economic relationships with Spain and simplify travel for UK service professionals, potentially increasing UK service exports by £250 million over five years.
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