Sorry to ruin the idea but i HIGHLY doubt its worth it, the 1.6 just doesnt have the aftermarket and performance to spit out 300 wheel without u having an wallet deeper than the piston thats gonna eventually fly out your block. I suggest an engine swap to something more capable like the 2.0l or if u have REALLY deep pockets and alot of skills which ( no dissrespect at all ) i think if your asking on the forum about how to push so much out the 1.6 you most likely havent aquired all the way yet. if your able to do alot of custom work and spend alot the money, id love to see the 1.6l built right but just look at your pros and cons, i did the same and ended up going prepping for an rurbo honda engine swap .