Fiat agrees to build $263 mln China engine plant

Newswire

SHANGHAI, Aug 21 (Reuters) - Fiat SpA has agreed to build a 1.8 billion yuan ($263 million) engine plant in southwestern China's Chongqing municipality with annual capacity of 100,000 units, Chongqing's economic planning agency said. A memorandum of understanding signed by the Italian carmaker called for 70 percent of the light diesel engines made at the facility to be exported, the Chongqing Development and Reform Commission said in a statement on its website (http://wfg.cq.gov.cn). It ...

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