JLR eyes West Asia through Saudi JV
Agency reports said that JLR has signed a preliminary deal with Saudi Arabia to manufacture 50,000 Land Rover vehicles a year in the kingdom at an investment of 4.5 billion riyals (approximately Rs 6,516 crore), citing the country’s commerce and industry ministry. The manufacturing plant is expected to begin work in 2017 in either the Jubail or Yanbu industrial cities.
When contacted, a JLR spokesperson said, “We have no further comment to make on this subject right now.” The company release said that the details of the development options including level of investment, potential capacity and job creation are expected to be announced next year.
“We are committed to further international partnerships to meet record demand for our highly sought after vehicles,” said Ralf Speth, chief executive officer, JLR.
“The Kingdom of Saudi Arabia is an attractive potential development option, complementing our existing advanced facilities in Britain and recent manufacturing plans to expand in other countries including India and China,” Speth said.
It is the world’s largest integrated aluminum complex that goes on stream from 2014 at the Ras Al Khair facility that has attracted Tatas. “Also the favourable duty structure
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