MOSCOW, July 16 (RIA Novosti) - Russian automaker Severstal-Avto, a subsidiary of steel producer Severstal, said Monday it intended to increase its investments by 300%, year-on-year, in 2007 to about 7.3 billion rubles (about $286 million).
The 2007 investment program plans measures to set up the production of Fiat Ducato light-duty vehicles in the Volga city of Yelabuga (45.6% of total investment), and new Fiat and SSang Yong cars (26.0%), and also to establish a company dealer network (9.6%).
Severstal-Avto said the investment will be made through the company's own and borrowed funds.
