May 31 (Bloomberg) -- Russia’s United Aviation Corp.. and China’s Commercial Aircraft Corp. plan a joint venture to develop and produce long-haul aircraft based on the Ilyushin IL-96, Vedomosti reported today, citing Russia’s deputy minister of industry and trade, Yuri Slusar.
The agreement will be signed during President Vladimir Putin’s visit to China next month, the newspaper said.
The venture will be based in China, which will fund the project, while the Russia side will provide technology, Vedomosti said.
Separately Russia’s Rosoboronexport agreed with China to supply aircraft engines in a contract, which is valued at as much as $700 million, Vedomosti said, citing a person it didn’t identify.
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