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Chery plans Argentine car plant
26 July 2011: Chinese carmaker, Chery plans to build a new assembly plant in Argentina in a joint project with the local Socma group, requiring a $170 million (approx Rs 756.5 crore) investment.
The Argentine plant would be built in the Buenos Aires suburb of Berazategui with an initial production capacity of 40,000 vehicles per annum.
Capacity will rise to 70,000 in a phase II. The construction works will commence as soon as financing had been secured.
Source: Business recorder