Jaguar Land Rover announces £600mln investment in BritainMarch 26, 2015 - 11:03 AMT PanARMENIAN.Net - Indian-owned luxury car manufacturer Jaguar Land Rover announced a £600 million ($894 million, €814 million) investment in advanced car manufacturing in Britain on Thursday, March 26, according to AFP. The British car brand, which was bought by India's Tata Motors for $2.3 billion from Ford in 2008 at the height of the global financial crisis, said the investment showed its commitment to Britain's resurgent car industry. "Jaguar Land Rover continues to demonstrate its unwavering support to the British automotive industry through sustained investments in advanced research, technology and innovation," Jaguar Land Rover chief executive Ralf Speth said in a statement. "This investment, made here in the heartland of our UK business operations, signals the confidence we have in this region to support the creation, engineering and manufacturing of ultra-low emission, premium British products, today and in the future." The largest portion of the investment is focused on the automaker's Castle Bromwich site in England's West Midlands, where £320 million will complete its development into "a global center of excellence for lightweight vehicle manufacturing", the statement said. The announcement came after a plan to double a design and engineering center in Whitley in the West Midlands was revealed, part of a drive to create low-emission vehicles. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. |