Fiat India raises Rs 2,448 crore loan for expansion

Fiat India Automobiles Limited (FIAL) has succeeded in raising a Rs 2,448 crore loan through Citigroup India. FIAL, which is a joint venture between Fiat Group Automobiles and Tata Motors Limited, had expressed a desire to invest Rs 2,341 crore in its Ranjangaon plant in Pune, to expand the facility. The company wants to scale up its production capacity to 2 lakh cars, 3 lakh engines and 3 lakh automotive parts and accessories. The current capacity of the plant, where the Palio Stile, the Linea and the Grande Punto are being manufactured, is 1.6 lakh units. An industry analyst speculated that the expansion of the Ranjangaon facility may also have something to do with fulfilling the demand for the Nano, which may be assembled in Ranjangaon until the Sanand facility in Gujarat becomes operational.

One thought on “Fiat India raises Rs 2,448 crore loan for expansion”
  1. Fiat is one of the oldest car makers of the world. Fiat entered the Indian car market with the Premiere Padmini and eventually got forgotten. The company re-entered India with the launch of Fiat 500. Hope Fiat will be successful in India.

    Rahul

    Indian Car Advisor
    Carazoo.com

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