Prime Minister Vladimir Putin and Fiat Chief Executive Officer Sergio Marchionne attended the signing ceremony at the future plant site in Naberezhnye Chelny "Fiat has always been weak in emerging markets outside Brazil, so this is a good step in the right direction," said Gabriele Parini, an analyst at UniCredit SpA in Milan with a "hold" rating on Fiat shares "The targets are ambitious and it will take time to set up production and gain market share" The new production facility will be located in Naberezhnye Chelny, a Volga River city in the Russian republic of Tatarstan about 1,000 kilometers (620 miles) east of Moscow, and will be operating in about 2 1/2 years, the companies said