The United Kingdom (UK) government has decided to allocate over £1.1 billion (approximately $1.49 billion) in joint government and industry investments for the maritime sector, seeking to expand growth and boost innovation in engineering, green technology and construction sectors.
Per the nation’s Department for Transport, the funding encompasses a private investment amounting to £700 million, which is set to go to major UK ports as well as industry stakeholders, and a public investment totaling £448 million aimed at slashing greenhouse gas emissions (GHG) from UK shipping.