Hindustan Motors Sanguine On Fi Aid For Lancer Project
Financial plans for the various projects have almost been finalised and we are confident of receiving the support of financial institutions and banks, announced G P Birla, chairman, Hindustan Motors.
The announcement was made at the company's 54th annual general meeting held here on Friday.
The company hopes to commence production of the Lancer-model by end-1997 or early 1998, added vice-chairman of the company C K Birla.
He, however, refrained from providing financial details of the project or the names of the banks and the institutions which have been approached by the company.
No mention of Mitsubishi picking up a 10 per cent equity in Hindustan Motors, announced at the company's last annual general meeting, was made by Birla.
The Calcutta-based Hindustan Motors has entered into a technical agreement with Mitsubishi Motors of Japan.
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