FCA has to strengthen investments in Italy to seek state-backed loan: Economy Minister

Italy's Economy Minister Roberto Gualtieri on Monday said Fiat Chrysler has to strengthen investments in Italy and avoid delocalizing its factories outside the national borders to apply for a state backed loan.

FILE PHOTO: Italy's Minister of Finance Roberto Gualtieri attends a one day Italo-Franco summit in Naples, Italy February 27, 2020. REUTERS/Ciro De Luca/File PhotoROME: Italy's Economy Minister Roberto Gualtieri on Monday said Fiat Chrysler has to strengthen investments in Italy and avoid delocalizing its factories outside the national borders to apply for a state backed loan.

"We have asked for additional commitments to the already stringent commitments : all the planned investments must be confirmed and indeed strengthened... we have said no to delocalizations," Gualtieri told a TV interview.

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Fiat seeks 6.3b euro state-backed loan for Italy operations[ROME] Fiat Chrysler Automobiles (FCA) said it's in talks to obtain an Italian state-backed credit line of as much as 6.30 billion euros (S$9.72 billion) to buttress the carmaker's finances after the coronavirus caused a steep downturn. Read more at The Business Times.
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