JEDDAH: ARAB NEWS
Published — Tuesday 11 December 2012
Last update 11 December 2012 1:31 pm
Indian company Tata Motors will build its third largest automobile assembly plant for its Jaguar and Land Rover brands in the Eastern Province.
Representatives of the Ministry of Commerce and Industry and the auto manufacturing giant will sign the letter of intent at a special meeting tomorrow.
The company plans to benefit from the upcoming multibillion integrated aluminum complex currently being built in Ras Al-Khair, north of Jubail. The $ 4 billion refinery and smelter plant is expected to produce the cheapest aluminum in the world.
The new assembly plant will be Tata Motor’s third largest assembly plant in the world, after the ones in the UK and China.
Negotiations had been going on between Tata Motors and ministry representatives for the last one year. A company spokesman said the official signing would finalize long-term plans to build the assembly plant in Saudi Arabia. “The Jaguar Land Rover plant will match the Isuzu truck assembly plant, which launches production this weekend, in both size and investment,” he said.
Tata Motors will start production with their Land Rover brands and introduce production of their Jaguar and Range Rover brands at a later date.
Saudi Arabia will be represented at the contract signing by Minister of Finance Ibrahim Al-Assaf, Minister of Petroleum and Mineral Resources Ali Al-Naimi, Minister of Commerce and Industry Tawfiq Al–Rabiah, Minister of National Economy and Planning Mohammed Al-Jasser, Minister of Labor Adel Fakeih and Prince Saud bin Thunayan, chairman of the Royal Commission for Jubail and Yanbu.
Tata Motors is a subsidiary of the Tata Group, one of the largest automobile manufacturing companies in India. Its headquarters are in Mumbai.