Car maker Fiat India Automobiles today said it has arranged funds to the tune of Rs 2,500 crore from a consortium of domestic and international lenders to support the company’s operations and production of vehicles.
The investments would be utilised for projects, including manufacturing powertrain and Fiat and Tata branded cars at the company’s Ranjangaon plant, Fiat India Automobiles (FIAL) said in a statement.
“The company has finalised three syndicated, secured credit facility agreements with a consortium of Indian and international banks for a total amount equivalent to Rs 2,500 crore,” it said. The company, which is investing Rs 4,000 crore for the operations in the country, said the syndicated credit facilities have been arranged by Citibank NA.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app