JLR signs LOI with Saudi Arabian government

Jaguar Land Rover (JLR), the marquee British brands owned by Tata Motors, and Saudi Arabia’s National Industrial Clusters Development Program (NICDP) have announced that they will now begin a detailed feasibility study together, to determine the viability of setting up an automotive facility. Discussions between JLR and the Saudi Government are at a preliminary stage, although opportunities have already been identified in aluminium component production – an area where Jaguar Land Rover has established a leadership position. Pending agreement on development options in the Kingdom of Saudi Arabia, the company would expect to announce further plans in 2013. Issues such as level of investment, potential capacity and job creation have not yet been discussed in detail between the parties. Azzam Yaser Shalabi the President of the National Industrial Clusters Development Program (NICDP) Saudi Arabia and Dr. Ralf Speth, Jaguar Land Rover Chief Executive Officer formally signed a Letter of Intent paving the way for an automotive partnership in the Kingdom of Saudi Arabia. HRH Prince Faisal Bin Turki bin Abdul Azi Al Saud and the Saudi Arabian Government has expressed its intention to initiate, develop and support the automotive industries and see Jaguar Land Rover as a potential partner to help strengthen their industrialisation plans.