The minister’s statement was reported by TASS.
“Shanghai has been selected as the building site,” Manturov said after his visit to China. “This is a major high-tech investment to be implemented with our Chinese partners.”
According to the Xinhua News Agency, with reference to a statement by the Commercial Aircraft Corporation of China, the necessary permits and joint venture registration are currently being obtained. Production should begin before the end of the year, Xinhua reported.
A memorandum to design a wide-body long-haul aircraft was signed in the spring of 2014 and the aircraft are expected to be in the sky by 2025 to 2027.
The airplane, which will have a capacity of 250 to 300 passengers, is likely to compete with leading aircraft manufacturers such as Airbus and Boeing, and both parties involved expect that it will gain a significant market share in Russia, China and other countries.