Tata Motors looks at Saudi Arabia1 min read . Updated: 01 Sep 2012, 05:27 PM IST
Tata Motors looks at Saudi Arabia
Riyadh: Tata Motors is examining the possibility of building a plant in Saudi Arabia to assemble Jaguar Land Rover Ltd cars next to a new aluminium smelter, the manufacturer’s chairman said in a magazine interview on Friday.
Saudi Arabia, the world’s top oil exporter and West Asia’s largest economy, has for decades aimed at using its abundant natural resources to diversify its economy into complex industries.
The smelter is a joint venture between Saudi Arabian Mining Co. (Maaden) and Alcoa Inc. and is scheduled to start production in 2013.
Saudi Arabian industry benefits from low electricity prices thanks to low natural gas prices.
The conservative Islamic kingdom does not have an existing auto industry.