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FIAT INDIA TIES UP WITH MAHARASHTRA GOVT. FOR PUNE PLANT

_Fiat--mou-2Fiat India Automobiles Private Limited will invest an additional Rs 2, 341 crore to enhance the existing production capacity and for backward integration at its Ranjangaon plant in Pune district. The announcement was made in a press conference presided over by Chief Minister Vilasrao Deshmukh. Here is a report. Fiat India Automobiles Private Limited will invest an additional Rs 2, 341 crore to enhance the existing production capacity and for backward integration at its Ranjangaon plant in Shirur taluka in Pune district. Coming over and above the ongoing investment of Rs. 1,679 crore, the total investment at Fiat plant will now stand at Rs. 4,020 crore. FIAPL signed a MoU with the state government to this effect. The announcement was made in a press conference presided over by Chief Minister Vilasrao Deshmukh, Industries Minister Ashok Chauhan and Finance Minister Jayant Patil in the presence of FIAT India officials. The MoU is an important step in realizing Fiat’s expansion plans in India. FIAPL, an equal joint venture between Fiat Group Automobiles and Tata Motors Limited, is located at Ranjangaon where the company manufactures cars, engines and transmissions both for Fiat and Tata cars. The Chief Minister said that he was happy to note that FIAPL has planned to bring in fresh investment in its existing plant as the venture has contributed immensely to the development of the region in and around Pune. The Chief Minister added that the venture is a win win situation for the state and the companies. The MoU will be a huge boost to the company as it plans to launch two cars- Linea and Grande Punto later this year. The plant will also provide additional employment to 4000 persons at full capacity. From Mumbai, Zeba Warsia for NMTV News.

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