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JLR Secures Loan from SBI

By Motortrend India Staff   |   07 October,2009

Jaguar Land Rover has been successful in securing a loan of £ 175 million from the State Bank of India. JLR is owned by the Indian auto giant Tata Motors.

The company employs 14,500 workers in the United Kingdom. And it has announced that it had been making "significant progress" in enhancing its funding facilities.

The company has raised a total of £ 500 million this year. This includes facilities secured earlier in the year from Bank of Baroda, Standard Chartered Bank, and Burdale Financial Limited, a subsidiary of the Bank of Ireland.

"We are pleased our funding plans are progressing and appreciate the confidence shown by our banking partners in our business." Jaguar Land Rover chief financial officer Kenneth Gregor said.

Land Rover had, just weeks back, introduced its SUV Freelander 2 in India. The other JLR cars available in India include Land Rover Discovery 4, Range Rover and Jaguar XFR, XKR.

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