Leonardo, Italian aircraft manufacturer, announced they signed a framework of agreement with Kangde Investment group for the program from Chinese and Russian collaboration CR929 long range airliner program.
This agreement will establish a joint venture - named Kandge Marco Polo Aerostructure Jiangsu - which will be responsible for the development, production and assembly of components for CR929 aircraft. Leonardo will be responsible of manufacture capabilities as well as intellectual property and to develop the aircraft in Italy while Kandge will provide financial coverage.
The CR929 program was launched last year by Commercial Aircraft Corporation of China (COMAC) and Russian's United Aircraft corporation with the aim of developing a new long range wide body segment that is now divided between Europe's Airbus and US rival Boeing.
The maiden flight for the venture's new plane is schedule for 2023, with first delivery expected two years later. Leonardo took the opportunity to collaborate and penetrate into Chinese market as it expects to require more than 1500 new wide body aircraft over the next 20 years.
“As announced in our industrial plan, (Leonardo is) broadening the core mission of the Aerostructures Division ... and growing our business in China, where we are already present in the helicopter and air traffic control sectors,” Leonardo’s Chief Executive Alessandro Profumo said in a statement.
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