LONDON: Major Japanese companies will invest almost 18 billion pounds in projects across Britain including clean energy, the British government said Thursday.

The investments by the Japanese businesses including trading houses Marubeni Corp. and Sumitomo Corp. will create high-skilled jobs and drive technology innovation, the government said.

Japan is the fifth largest investor in Britain. Japanese investment in the country is expected to grow further after Britain joins the Trans-Pacific Partnership multilateral free trade agreement.

Marubeni has announced its intention to sign a memorandum of understanding with the British government which envisages some 10 billion pounds of investment in clean energy projects over the next 10 years with partner companies.

Mitsubishi Estate Co. and Mitsui Fudosan Co. will invest 3.5 billion pounds to build affordable housing and high-quality office space in London.

Sumitomo Corp. will invest 4 billion pounds with its partners to expand its offshore wind power projects in Britain.

JIJI Press