SENSEX NIFTY
Dec 11, 2012, 07.11 PM IST | Source: Moneycontrol.com

Jaguar Land Rover mulls new plant in Saudi Arabia

Tata Motors owned Jaguar Land Rover has signed a letter of intent with National Industrial Clusters Development Programme (NICDP) in Saudi Arabia to explore opportunities for a new plant in the Middle Eastern country.

Moneycontrol Bureau

Tata Motors owned Jaguar Land Rover has signed a letter of intent with National Industrial Clusters Development Programme (NICDP) in Saudi Arabia to explore opportunities for a new plant in the Middle Eastern country.

The British luxury auto maker and NICDP will now begin a detailed feasibility study together, to determine the viability of setting up an automotive facility, it said on Tuesday.

"We are committed to further international partnerships to meet record demand for our highly sought after vehicles. The Kingdom of Saudi Arabia is an attractive potential development option, complementing our existing advanced facilities in Britain and and recent manufacturing plans to expand in other countries, including India and China," said Dr Ralf Speth, CEO, JLR.

So far in 2012, JLR's global retail sales are up 32 percent to 3.24 lakh units. Sales in Middle East and North Africa rose over 9 percent to 11,418 units.

However, discussions between the two parties are at a preliminary stage, JLR said, adding that opportunities have been identified in aluminium component production.

The world's largest integrated aluminium complex, a joint venture between Saudi Arabian Mining Co and US-based Alcoa, is due to start production in 2014 at the Ras Al Khair facility, creating potential opportunities for the automotive sector, it said.

JLR recently launched the new Range Rover SUV and Jaguar XJ saloon with an all-aluminium body.

The discussions for a potential plant in Saudi Arabia come closely on the back of JLR's joint venture announcement with China's Chery Automobile Co to manufacture vehicles at a new plant near Shanghai. It is also expanding assembly of JLRs at at Pune in India.

Tata Motors shares were down 0.6 percent at Rs 278.40 on NSE in late trading on Tuesday.

Nachiket Kelkar
nachiket.kelkar@network18online.com

Tata Motors stock price

On September 18, 2014, Tata Motors closed at Rs 525.60, up Rs 18.75, or 3.70 percent. The 52-week high of the share was Rs 531.00 and the 52-week low was Rs 330.25.


The company's trailing 12-month (TTM) EPS was at Rs 0.08 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 6570. The latest book value of the company is Rs 59.58 per share. At current value, the price-to-book value of the company is 8.82.

Set email alert for

ADS BY GOOGLE

video of the day

Oct events litmus test for Nov upswing: Sanju Verma

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.