The Italian Fiat Industrial Group announced Friday that it will invest 500 million euros in Spain, mainly in Madrid, and will create 1,200 jobs here at the end of 2016, through its subsidiary of construction vehicles and Iveco trucks.The President of the Fiat Industrial, Sergio Marchionne, made the announcement at a meeting with the President of the Government, Mariano Rajoy, at a time in which Spain is in full financial crisis, with a record 24,44% unemployment.The Iveco industrial plan, “foresees an investment of some 500 million euros from mid-2012 and 2016 end.” “Investments will focus on plants in Madrid and Valladolid for the development of new models,” the company said in a statement broadcast on Spain.The increase in production, especially in the plant of Madrid, which is the only one in Spain that manufactures heavy vehicles, “will allow duplicate production and create 1,200 jobs”, more than 360 of them before the end of the first year, he added.Fiat Industrial brings together not automotive activities of the Fiat Group since their Division at the beginning of 2011 and consists of CNH (agricultural and construction machinery) and Iveco (trucks and buses).Iveco is specialized in the design, manufacture and marketing of commercial vehicles, buses and vehicles like trucks of firefighters and civil protection.Iveco is present in 11 countries, in Europe, but also in China, Russia, Australia and Latin America, which employs 25,000 people.