View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 21, 2009

LUXEMBOURG: VW India in receipt of EUR100m EIB loan

Volkswagen India is receiving a EUR100m loan from the European Investment Bank (EIB), the EU's long-term lending institution.

Volkswagen India is receiving a EUR100m loan from the European Investment Bank (EIB), the EU’s long-term lending institution.

According to EIB, the financing contract signed in Luxembourg last week will help the company in India.

The project comprises the investment in a new passenger car manufacturing facility in Pune (Maharashtra) for the production of 110,000 units per year of three small, advanced car models, customised for the local market.

The EIB says that the investment thereby contributes to foreign direct investment in India and strengthens the presence of EU manufacturing companies in the region.

Furthermore, the EIB maintains that it will contribute to the introduction of modern, fuel-efficient powertrain technology to India, enabling VW to comply with the gradual tightening of GHG emissions legislation in India.

Topics in this article: , ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Auto