Tata and Fiat JV to roll out vehicles in Argentina

New Delhi, May 10: Argentine government today said vehicles manufactured by Tata and Fiat JV company will roll out by the end of this year in Argentina.

''The venture will produce 20,000 units of pick-up trucks for the 'Mercusur' region comprising Paraguay, Uruguay, Argentina and Brazil,'' said Cordoba Minister of Public Information Marcelo Falo.

Delving further he added, representatives of the Government of Cordoba, are scheduled to meet the Directors of Tata Consultancy Services to discuss investment oppurtunities in the IT sector in the region.

Donadio and Montich are the two other companies in negotiations with Tata Steel to discuss future joint ventures.

''Tata's will be offered subsidies on energy consumption apart from a 100 per cent rebate in taxes. The government will also give a 100 dollar per month incentive to the employees of Tata,'' said Mr Falo.

Dubbed the 'Bangalore of Argentina', Cordoba, offers incentives to investors interested in setting up operations in the state. Motorola, Intel and EDS have already established offices in the region.

''A 'tax-treaty' in the IT sector would be a good idea for investors from both the countries. We want transfer of technology from India as it has done tremendously well in the sector,'' said Federal Council of Investments Juan Jose Ciacera.

UNI