Crisis-hit Jaguar Land Rover looks set for a £270 million cash bonanza following months of agonising waiting for 13,000 West Midlands workers and their families.
The Midlands biggest manufacturer is set to hear next week that its application for a loan of 300 million euros will finally be confirmed by the European Investment Bank.
The loan, likely to be ratified on Tuesday, will free up JLR to develop new green vehicles and technology and help secure its future following months of losses and production cutbacks.
But JLR is still waiting for approval of a Government loan guarantee to underwrite the £270 million and enable the car maker to fight its way out of the worst recession to hit the UK automotive industry in 40 years.
Full story tomorrow...