Jaguar Land Rover, the luxury car manufacturer which is a part of Indian group Tata Motors, communicated that it will invest 355 million pounds ($561 million) to set up a new engine plant in central England.
The government, which has no issues with the manufacturing plant in Britain, will assist financially by providing up to 10 million pounds for the facility. The plant by Jaguar Land Rover is expected to boost up the employment opportunities by creating around 750 jobs and thousands of jobs across the wider UK economy.
"JLR choosing Wolverhampton for its new engine plant in the face of tough international competition is a tremendous boost for manufacturing in the UK and the West Midlands in particular," said Business Secretary Vince Cable.
Mike Wright, Executive Director at Jaguar Land Rover, while addressing the media said that they mulled upon constructing the facility in a number of locations within as well as outside UK. "One obvious location would have been India," he was quoted as saying.
Jaguar Land Rover is currently responsible for employment of more than 19,000 people in Britain and provides support to up to 140,000 jobs. Wright also added that "There are a whole host of factors that go into these decisions but on the balance of all of those factors, we determined with the support of Tata Motors, in this instance, the UK was the best option."
It is strongly believed that Britain is nodding to such manufacturing as a part of attempts that are being made to bring about poise in the economy that has been dependent majorly on financial services.
The site selected for the Jaguar Land Rover plant in the West Midlands, one of the severely affected regions in the UK at the time of recession, will produce a family of 4-cylinder petrol and diesel engines and help drive efficiencies across the other UK facilities.
