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PSA, Ford unveil second phase of diesel engine JV

PARIS, Feb 18 (Reuters) - French carmaker PSA Peugeot Citroen on Tuesday unveiled the second phase of a plan to make diesel engines with U.S. auto giant Ford .

It said the two companies were investing or had invested a total of nearly one billion euros between 2001 and 2003 to make new 1.6-litre and 2.0-litre diesel engines.

The two companies expect to produce 1.6 million of the engines per year by 2005.

The plan is part two of a four-stage cooperation venture announced in 1998, which has an eventual production target of three million diesel engines a year.