March 31 (Reuters) - Faw Car Co Ltd
* Says it swings to net loss of 954.3 million yuan ($138.48 million) in 2016 versus net profit of 53.0 million yuan year ago
* Says it scraps D021 production project to avoid investment loss and optimize assets
* Says it plans engine projects with total investment of 357.7 million yuan
Source text in Chinese: http://bit.ly/2mV4KLS; http://bit.ly/2nqtEiD; http://bit.ly/2nlZ2Om
Further company coverage: ($1 = 6.8912 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)