The expansion activities of Piaggio in India will be covered under the financial assistance to be released by International Finance Corporation(IFC), a wing of World Bank. The project, also to cover Vietnam, will get an aid of Rs273 crore as loan. The Italian company will utilize this fund for manufacturing eco-friendly cars, scooters, motorcycles and LCVs. The project will yield job
opportunities numbering an approximate 300 and offer better platform for fuel-efficient auto industry, said IFC. Piaggio’s plant at Maharashtra is manufacturing engines for two wheelers and LCVs and the aid might make the company involve in projects related to new products, said its Chairman.