CARMAKER Volkswagen AG signed an agreement to build a factory in China's far west during a visit to its Wolfsburg headquarters by Chinese Premier Wen Jiabao yesterday.

The agreement with China's SAIC Motor Corp foresees total investment of about US$224 million.

The plant in Urumqi, capital of Xinjiang Uygur Autonomous Region, should produce up to 50,000 vehicles a year from 2015.

Source:shanghaidaily.com