China's AVIC Electromechanical Systems Company Limited and the U.S. Hamilton Sundstrand announced here Thursday that they would set up a joint venture to produce power systems for the C919, China's first domestically produced large passenger plane.
The joint venture will temporarily be based in Xi'an, the capital of northwestern Shaanxi Province, with a total investment of $145 million.
The joint venture reported $48 million of registered capital. Each of the two investors owns half of the project.
The joint venture is expected to start production before 2012.
The C919 is planned to be a single-aisle plane that can seat up to 168 passengers. It will be built by the Commercial Aircraft Corporation of China (Comac) and is set for delivery in 2016.
(Xinhua News Agency March 4, 2011)
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