JLR mulls plant in Saudi Arabia, signs letter of intent
11 December 2012
The National Industrial Clusters Development Program (NICDP) and Jaguar Land Rover (JLR) Company (Tata Group) have signed a letter of intent in Riyadh for a project to set up a Land Rover manufacturing facility in Saudi Arabia.
The initial investment is estimated at SR 4.5 billion ($ 1.2 billion) and the proposed factory is expected to produce 50,000 Land Rovers a year by 2017.
Azzam Shalabi, president of Industrial Clusters program, and Ralf Speth, CEO of Jaguar Land Rover (JLR) Company, signed the deal in the presence of Commerce and Industry Minister Tawfiq Al-Rabiah and Ratan Tata, chairman of the Tata Group and Jaguar Land Rover Company.