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BUSINESS DIGESTFIAT INVESTMENT Fiat Auto is expected to confirm on Friday reports that it is to establish its own production and marketing operation in South Africa. Fiat's plans to invest a possible R200-million were apparently leaked by an executive of Fincantieri, an Italian shipbuilder which has made a bid as part of the SA Defence Force's multibillion rand re-equipment programme. The Fiat investment was mentioned as part of the Italian consortium's countertrade offer as part of the deal. Roberto Testore, president and chief executive of Fiat Auto, is expected to "make a significant announcement about the future plans of Fiat in South Africa" in Johannesburg this week. Also in South Africa at present is Bruno de Mori, who will become the new managing director of the local Fiat operation. CCH IN SAUDI ARABIAN DEAL Computer Configurations Holdings (CCH) has bought a 50% stake in Infosol, an information technology company based in Saudi Arabia, from the Nazer Group for 45-million Saudi rials. The Infosol stake will be paid in three tranches. CCH says the deal will enable the group to penetrate the Saudi Arabian market. The deal is subject to approval by the regulatory authorities. IFC INVESTS IN SA PROJECTS The International Finance Corporation (IFC) has invested $40-million in two projects in South Africa. The financing will be provided in local currency and represents the IFC's first rand-denominated loans. The IFC said it had approved funding of $30-million equivalent for Unicell Paper Mills to install an integrated tissue paper mill at its plant in Germiston. Unicell, which would use waste paper as its raw material, would employ 260 people. The IFC has also loaned $10-million to Cashbank, which services lower-income communities.
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