|
Boeing Company intends to launch a US$100 million project starting at the end of this year at Pudong International Airport to repair and refit aircraft by co-operating with Shanghai Airlines and the local airport authority.
Boeing China Inc Vice-President Kenneth Yata said Boeing will hold a 51 percent stake in the investment while the other two partners will take the remainder shares.
"But their respective shares percentages are still under discussion," Yata said.
He said this is the first project of its kind to be launched outside the United States for Boeing. The joint venture will start construction at the end of 2003 and be put into operation in 2005.
"We are focusing on the aviation market in the Asia-Pacific rim, which has great potential," he added.
So many aircraft which are in service in the rim are calling for a maintenance center where they can be repaired or refitted, he said.
He also added that as the cargo market expands, some passenger aircraft will be refitted as cargo planes as part of the future venture.
"We chose Shanghai as our final location after comparing 10 cities in other parts of China, due to its favorable business environment," he said.
Local aviation insiders said Boeing's decision to launch such a project in Shanghai is based on the city's technical capability to manufacture aircraft products for Boeing.
Yesterday, Boeing rated the Shanghai Aviation Industrial Corporation (SAIC) as a "Gold" class supplier, and granted it Boeing Inspection Delegation authority.
Being part of the Boeing authority team means the aircraft giant is relying on SAIC's continued level of excellence in delivering products to Boeing.
SAIC produces 13 Boeing 737 horizontal stabilizers per month, three more than before, for the Boeing Next-Generation 737.
(China Daily October 16, 2003)
|
