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Fiat India completely shifts operations to Ranjangaon, Pune |
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Written by Arjun
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Saturday, 03 November 2007 |
Pune: Fiat India Pvt Ltd, in continuance of its process of restructuring and consolidation of its operations in India, has today announced the sale of its 53-acre Kurla property to IKG Associates, an IL&FS affiliated entity for Rs. 608 Crores (Rupees Six Hundred and Eight Crores). The company operations have completely shifted to Ranjangaon, near Pune in Maharashtra, a facility measuring about 200 acres.
This marks an important phase in the journey of Fiat in India as the company ushers into a new era with the transformation of its production facilities and the impending launch of new models in the country. The Ranjangaon facility, which commenced operations in February earlier this year will be the destination for all Fiat manufacturing processes in India. The plant, which manufactures the Palio currently, is geared up for the production of various internationally successful Fiat models which will be launched in India in the near future. The total estimated investment in the plant is Rs. 4, 000 crores.
The Kurla property where Fiat had commenced its Indian Manufacturing operations in 1997 has witnessed the production of various cars from the Fiat stable such as the Uno, Palio, Siena, Weekend, Adventure and Petra models. Fiat discontinued its Kurla operations late last year and shifted Palio production to the Ranjangaon facility. |
