Tata owned JLR plans on investing £100 million in Saudi Arabia
A proposed plant with an annual capacity of 100,000 cars is being planned by Tata Motors owned Jaguar Land Rover. The luxury automobile manufacturer will be investing £100 million (about Rs 1037 crores as per today’s exchange rates) in the new facility in Saudi Arabia so as to cater to increased demand in the Middle East sector.
Jaguar Land Rover is currently in talks with the Saudi Government wherein a new plant in east of the country will be constructed which will offer employment to a total of 4000-5000 people. This is where the new version of Land Rover Discovery will be produced, reveals Economic Times.
This new plant in Saudi Arabia is the company’s third major foreign expansion after deals to set up plants in both China and Brazil have just been concluded. The upcoming plant will be located in eastern province of the Kingdom and Saudi government is also planning to invest in this plant so as to give a boost to auto industry in the country. The new plant will initially assemble cars from components made in Britain before taking on more parts from Saudi companies.
Brazil plant will be constructed at an investment of £240 million while the China plant is a billion pound joint venture with Chinese automakers Chery. Jaguar Land Rover has noted strong growth in the past year recording 19% increase in sales with a total of 425,006 units sold in 2013.