Renault to invest 350m euros in Pitesti

Renault SA is planning to turn Dacia Pitesti into a major exporter, following investments worth 356 million euros ($316 million) to be made by 2004, according to a company release run by international press agencies.

The above-mentioned amount does not include investments aimed at the new X90 model, though, that is about 350-450 million euros, according to AFP. X90 will be produced in Pitesti and targets emerging countries’ markets, Latin America included. Renault is also planning to launch a new 5000-euro model in 2004.