Investment Updates News
- FAW Xiali to invest US$386m by 2010
Date: 23-Jan-2007 Sources: (Shenzhen Daily)
TIANJIN FAW Xiali Auto plans to invest 3 billion yuan (US$386 million) from 2007 to 2010 to boost its production capacity.
'We plan to spend 3 billion yuan by 2010,'the executive said yesterday. 'We may raise money from the capital markets but have yet to work out detailed plans.'The firm's expansion scheme includes a doubling of its annual vehicle production capacity to 400,000 units and the addition of a new engine assembly line, he added. FAW Xiali, based in the northern city of Tianjin, near Beijing, makes its namesake compact car as well as the Vela and Vizi models.
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