BEIJING, Mar. 3, 2011 (Xinhua News Agency) -- Chinese automaker Chery Auto has received go-ahead from China's top economic planner, the National Development and Reform Commission (NDRC), for its assembly plant project in the St. Paul state of Brazil, reported Shanghai Securities News.
Chery inked a framework agreement with the local government of St. Paul state last September, becoming the first Chinese automaker that has invested in a plant in Brazil.
The 1 million-square-meter assembly plant will be solely-invested by Chery, with total investment of 400 million US dollars.
The whole project will be divided into two phases.
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