UPDATE 2-Nissan sets up $362 mln China engine plant


(Recasts, adds details, analyst comment) By Ben Blanchard and Yuko Inoue SHANGHAI/TOKYO, Dec 21 (Reuters) - Japan's Nissan and a local partner will spend $362 million on an engine plant in southern China to help it sidestep hefty import tariffs on auto parts. The plant, to be built in Guangzhou by Nissan Motor Co. Ltd. and China's Dongfeng Automotive Investment, will start up in early 2006 and be run by their joint venture, Dongfeng Motor Co. Ltd., both companies said on Tuesday. ...

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