MOSCOW, July 3 (Reuters) - Russia's largest car maker AvtoVAZ AVAZ.MM, in which France's Renault RENA.PA has a quarter of the shares, will buy a licence to produce 450,000 Renault car engines, a business daily reported on Thursday.
Vedomosti quoted AvtoVAZ President Boris Alyoshin as telling Interfax news agency the two firms were ready to sign a contract on the assembly of 1.4 and 1.6-litre petrol engines for its Lada cars and Renault vehicles produced at its Russian plant.
He gave no financial terms of the deal.
The paper also quoted a source close to the Russian carmaker as saying AvtoVAZ had yet to decide whether it will build a new plant to make the engines or upgrade existing facilities. (Reporting by Maria Kiselyova; Editing by Tomasz Janowski)
Our Standards: The Thomson Reuters Trust Principles.