Tata Motor's Jaguar Land Rover will invest USD 2 billion in the Slovak Republic to build a manufacturing plant. The Minister, H.E. Vazil Hudak, minister of economy announced at the World Trade Centre (WTC) Mumbai on Oct. 8, 2015. Hudak added that in the plans are to generate local employment in the plant as well as in the allied sectors.
"We are happy to inform you all that the first Indian company to invest in Slovak Republic is Tata's Jaguar Land Rover. They will invest USD 2 billion in the first phase. We plan to generate 400 jobs in the plant and 50,000 supplementary jobs in the allied sectors," said Hudak.
Slovak Republic is looking for Indian partners to start ventures in automobile, defense, agriculture, pharmaceuticals, renewable energy, mainly wind and solar energy.
Vijay Kalantri, President All India Association of Industries (AIAI) and Vice Chairman WTC Mumbai, in his welcome speech said that Indian companies have a lot of potential in investing in Slovak Republic.
Shares of the company gained Rs 10.1, or 2.95%, to settle at Rs 352.95. The total volume of shares traded was 1,199,583 at the BSE (Friday).