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Jaguar Land Rover invests £150m extra in i54 plant Jaguar Land Rover to create 700 new jobs at i54 plant
(about 11 hours later)
Jaguar Land Rover has said it is going to invest over £150m more in its new engine plant in the West Midlands, taking the total to more than £500m. Jaguar Land Rover is to invest a further £150m to double the size of its unfinished engine plant in the West Midlands, creating 700 additional jobs.
The company hopes to raise the overall number of jobs at the facility at the i54 business park on the Staffordshire-Wolverhampton border to about 1,400. The company plans to raise the eventual number of jobs at the facility at the i54 business park on the Staffordshire-Wolverhampton border to about 1,400.
The manufacturing centre is scheduled to open later this year.
JLR is also spending £2.75bn to help support products like the Jaguar F-Type and a nine-speed gearbox Land Rover.
The company, based at Gaydon in Warwickshire, originally estimated it would create 750 jobs when it announced its initial plans for the engine plant.
The first engines are scheduled to come off the production line in 2015.The first engines are scheduled to come off the production line in 2015.
The company has also announced spending of £2.75bn on further product development.
Jaguar Land Rover (JLR), which has its headquarters at Gaydon, Warwickshire, said total investment at the i54 site would now be more than £500m.
'New resource'
Its initial plans set out in 2011 were for a £355m investment and 750 jobs.
Chief executive Ralf Speth said: "Jaguar Land Rover's new engine manufacturing centre in the UK is a clear demonstration of our business strategy guiding our investment plans.
"Not only does it bring our engine supply back to our production doorstep, but it gives us significant new resource as we continue to innovate with new products and markets."
Unite general secretary Len McCluskey said the news was a "fantastic boost for manufacturing".
He said: "Having lobbied JLR and the last Labour government to set up a new engine plant in the West Midlands, we're delighted that this state-of-the-art facility is going to be expanded.
"This is a massive vote of confidence in the skills of the UK workforce.
"JLR's investment will generate quality jobs in the West Midlands and is a much-needed shot in the arm for Britain's struggling manufacturing sector."
'Excellent news'
Staffordshire County Council is investing £18.5m to build a dedicated road junction on the M54 for access to the plant, which will be matched by investment from Wolverhampton City Council.
A joint statement by the two councils and South Staffordshire Council said it was "excellent news"
It said: "We are delighted that Jaguar Land Rover is strengthening its commitment to the i54 South Staffordshire site before construction of the main facility has even been completed.
"Extending the plant will create hundreds of jobs in addition to the 750 that will be created when the advanced engine manufacturing facility is operational - not to mention the thousands more through the supply chain."
JLR added that the investment of £2.75bn in product development would "support the launch of eight new or refreshed models during 2013".JLR added that the investment of £2.75bn in product development would "support the launch of eight new or refreshed models during 2013".