Tata Motors to raise $300mn through ECBs
Mumbai: Tata Motors plans to raise $300 million through external commercial borrowings by the end of March 2007, in order to fund its expansion plans. These plans include the Rs 1-lakh car project that will have a factory in West Bengal. The company is also mulling the launch of an initial public offering for its two 100 per cent subsidiaries HV Axles and HV Transmissions.

Tata Motors has set December 2006 as the deadline for the government to hand over the land to the company.

The company's paint shop at its Pune plant had suffered damages and the company has decided to infuse fresh investments to set up a new paint facility that will have a capacity to paint 500 cars on a daily basis. The new booth will be housed at the commercial vehicle business unit facility within the factory premises.

Tata Motors earlier undertook all the paint jobs of DaimlerChrysler India for their range of Mercedes Benz cars.
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