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Jaguar Land Rover to invest $2 billion in Slovakia

Staff writer |
Tata Motors' Jaguar Land Rover will invest $2 billion to build a plant in Slovak Republic which will help create over 50,000 jobs, economy minister Vazil Hudak said.

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"We are happy to inform you all that the first Indian company to invest in Slovak Republic is Tata's JLR. They will invest $2 billion in the first phase," Hudak was quoted as saying.

He was speaking at an interactive meet organised at the World Trade Centre by the All India Association of Industries (AIAI), which issued a statement.

Hudak said this will generate 400 direct jobs at the plant and another 50,000 supplementary jobs in allied sectors.

The minister, who met Tata Sons Chairman Cyrus Mistry after the meeting, said this is the best time to invest in the country, and mentioned political safety and a robust economy as its strengths.

In August, JLR signed a letter of intent for the potential new plant in the city of Nitra in western Slovakia, according to the company website.

Speculation is rife on the quantum of investments in the plant, with some media reports pegging it at GBP 1 billion.

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