Update:
Swapped 2SZ-FE assembly/engine block of 2nd generation vitz, after driving of 1476KMs without any check light. Nothing is changed except V-Belt and little alteration of exhaust pipe. The 2nd generation vitz come with electric power steering so to accommodate old power steering the timing chain side cover is modified.
Pick is improved, no load from AC, braking improved; economy achieved on motorway is 17Km/l with AC.
Assembly cost Rs. 58K.
CatCon (Chines) Rs. 9K.
V-Belt Bando 4pk1810 cost Rs. 1200
Engine Oil Rs. 3300 (10w40 changed after 1K and switched to 10W30)
Oil Filter Guard: 300
Mechanic: Rs. 5000
Documents Update: Rs. 5000
Following is the pic of assembly.