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FINANCIAL NEWS
Tata mulls to set up JLR assembly plant in Saudi Arabia
01 Sep 2012
(MENAFN) Luxury carmaker Jaguar Land Rover (JLR) said it is mulling setting up a car assembly plant in Saudi Arabia, following Ma’aden’s plans to set up the world’s largest aluminum smelter, Arabian Business reported.
Ratan Tata, chairman of Tata Motors, owner of JLR, was quoted by Autocar India magazine as saying that the smelter could give JLR a competitive advantage over the other competitors.
Tata wants to concentrate more aluminum in JLR’s cars, saying that the direct benefits of the increased aluminum content will be seen in fuel economy, emissions, performance and agility of the new models.
Ras Al Khair, a joint venture project between Saudi Arabian Mining company (Ma’aden) and Alcoa, is slated to begin production in 2013 and is expected to be the cheapest and most efficient aluminum producer in the world
During the current fiscal year, cumulative sales of Jaguar Land Rover have grown by 36 percent to 110,373 units, according to the magazine.
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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