British companies will invest $400 million in Cuba initiatives, in areas that reportedly include agriculture, tourist infrastructure and energy, a business delegation said Thursday. Agreements were signed in Cuba during an economic forum that brought together 32 British companies. British politician John Hutton, chairman of the Cuba Initiative project which brought the businesses together, said in Spanish-dubbed televised remarks that "we arrived at the right moment."
Local media reported that the investments would be made in agriculture as well as energy and tourist infrastructure, including a new golf course. The golf course will be the island's second British-built facility after a $350-million course in the resort town of Varadero, some 140 kilometers (87 miles) west of Havana.
The British delegation's trip follows on the heels of similar missions from the US states of Texas and New York. Since the historic rapprochement between the United States and Cuba was announced in December, economic and diplomatic delegations have scrambled to send missions to the communist island.
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