EIB FUNDS ITALY TURKEY LIGHT VAN JOINT VENTURE
November 1st, 2007
BY KEITH NUTHALL
THE EUROPEAN Investment Bank (EIB) has drafted plans to lend Euro 200 million to a joint venture involving FIAT and Turkish automobile manufacturer Turk Otomobil Fabrikasi (TOFAS) to build a new light commercial van. This is expected to replace the existing Fiat Doblo, TOFAS statements have claimed, with around 120,000 vehicles being produced annually (70% for export). Noting that production was scheduled for 2009, an EIB memorandum said its financing would help fund the "development, production and sale" of the van, supporting a ...
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