Business News, 29/10/2017

China Invests $30 Million in Kharkiv Company

Over the past five years, FED public joint-stock company received $30 million from China, reports the company’s press-service.

Ukrainian aviation and defense manufacturer participates in China’s state programs for the construction of MA700 and C919 passenger aircrafts. FED is in charge of MA700’s hydraulic system and C919’s fuel pump.

According to the chairman of the board Viktor Popov, while four passenger planes were built in Ukraine over two years, the enterprise plans to produce 100 aircrafts per year in China. “I am sure that we will be increasing production volumes, participating in China’s state programs. We also expect that with the successful cooperation with Chinese partners, the investment will be $10 million a year,” Popov said.

He stressed that the company’s designs are unique. “FED carries out the full cycle of works, from design to manufacturing,” Popov emphasized.

Text: Iryna Klymenko

Photo: Status Quo