Fiat India Automobiles Limited (FIAL) has managed to secure Rs 2,500 crore worth of funds from a consortium of Indian and international banks. The funds, arranged by Citibank NA, will be used for manufacturing powertrain and Fiat and Tata branded cars at FIAL's manufacturing plant in Ranjangaon. The syndicated credit facilities include an ECB credit facility for Euro 130 million, a Rupee term credit facility for Rs 1,000 crore and a Rupee short-term revolving credit facility for Rs 600 crore.
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Friday, August 28, 2009
Fiat India gets Rs 2,500 crore credit to support its production activities
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