Fiat Considers Captive Power Plant For Palio Project
Italian automobiles giant Fiat is toying with the idea of a captive power plant for the Palio world car project to be set up in the country. The size and cost will be decided at a later stage after studying all options.
The Fiat group, of which Fiat Auto is a part, has interests in power projects worldwide. In other parts of the world, the company has set up captive plants alongside its auto plants.
The Fiat groups chief corporate representative, Franco Pilastro, who was in Mumbai to attend the Advantage Mahar-ashtra convention, said the company was still studying various options. It would make a final decision only after fully understanding the power scenario and policies in India. The Fiat group is planning to invest nearly $1 billion in the country in auto and tractor ventures. It introduced the Uno through a joint venture in India with Premier Automobiles in 1995.
The Palio car project will also be in collaboration with the Vinod Doshi family. The company is awaiting clearance from the Foreign Investment Promotion Board for the proposed plant, which will make nearly 100,000 cars both for domestic market and exports.