The joint venture established by the two companies will be responsible for the development, production and assembly of CR929 aircraft composite parts.
Italian aerospace giant Leonardo signed a memorandum of understanding (MoU) with China’s Commercial Aircraft CR929 long-range passenger aircraft project, which was launched in 2017 by COMAC (Shanghai) and Russia United Moscow).
Leonardo will provide technologies and capabilities for the development of new long-range passenger aircraft. The Kant Group provided financial protection for the project. After the agreement is reached, the two parties will establish a joint venture called Jiangsu Kangde Marco Polo Aviation Structure Co., Ltd., responsible for the development, production and assembly of CR929 aircraft composite parts. Kangdi Investment Group has invested in a new plant in Zhangjiagang, Jiangsu, China, where the joint venture will build carbon fiber fuselage components for passenger aircraft.
In the next 20 years, China’s demand for new wide-body aircraft will reach more than 1,500. Focusing on China’s growing aviation sector and growing aviation market, Leonard is also looking for potential cooperation opportunities.