Fiat to invest 1.1 billion US Dollars to set up plant in Russia

Note: This section contains information in English only.
Source: BBC
Fiat has confirmed that it will invest 1.1 billion US Dollars in setting up plants in Russia. Sberbank agreed to provide financial backup to the project in return of 20% stake. The plant will be built in the St Peterburg's area and the vehicles will be produced in cooperation with ZIL. The targeted output is 120,000 vehicles per year.


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