Renault prepares 53m euros for Dacia

French carmaker Renault will operate a 53m-euro capital increase at Automobile Dacia. The decision was endorsed during the General Meeting of Shareholders on Wednesday, the company’s vice president Constantin Stroe said. Therefore, the company’s capital will increase for the second time this year, following the infusion of another 200m euros in July that Renault used for investments. Dacia capital now amounts to 14,632.7bn ROL (over 380m euros). Renault took over Automobile Dacia in 1999, when it bought the main stake from the Romanian State for $50m. The Pitesti-based carmaker will turn around as soon as the new 5,000-euro X90 model is launched late next year, company officials say. ZF