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Helicopter joint venture established in Tianjin
enorth.com.cn   2009-01-12 10:14

 

(CCTV)A helicopter joint venture has been established in Tianjin on Thursday. And the first light-weight civil helicopter will be fully assembled by the end of this year.

A helicopter joint venture has been established in Tianjing on Thursday.
A helicopter joint venture has been established in Tianjin
on Thursday.
The China Aviation Industry Corp, or AVIC, has signed an agreement with the Tianjin municipal government to set up a helicopter company. The joint-venture consists of research and development, a product assembly line, customer service, and related facilities. It will focus on the production and development of civil helicopters and related parts.

Wang Bin, president of AVIC Helicopter company, says, "the country will need at least 2,500 to 3,000 helicopters within the next 10 years. Tianjin will be the center, and our market share could reach 15 percent worldwide."

The first plan of the JV will be rolled off the assembly line by the end of the year. China's helicopter sector has 50 years of history. The country so far has produced 1,000 helicopters. It's currently working on the development of the Z-15 and Z-8F, as well as next generation helicopters.

Meanwhile, AVIC also sealed a strategic agreement with 10 domestic lenders on Thursday. Those banks, including ICBC, China Construction Bank, and China Merchants Bank, are about to grant a 176 billion yuan line of credit to AVIC. The loan will support the research and development for the larger models.


Editor:
 

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Editor: Zhang Jialu

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