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Mar 06, 2013
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JLR hikes engine plant investment to £500 million
Tata Motors-owned Jaguar Land Rover on Tuesday said it is ramping up the investment for its engine plant in the UK by over 40% to more than £500 million (over 4,100 crore), besides doubling employee strength at the site.
Reiterating its commitment of an investment of £2.75 billion (about 23,000 crore) during 2013-14 financial year on development of new vehicles, the company said it will launch eight new or refreshed products this year.
"Jaguar Land Rover will reinforce its commitment to manufacturing in the UK by increasing the investment in its new engine manufacturing centre to more than £500 million," JLR said in a statement. In 2011, the company had announced to invest £355 million for setting up the engine plant.
Source -
http://economictimes.indiatimes.com
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