AVIC signs agreement to deliver eight aircraft to African nation

08:15, November 05, 2010      

Email | Print | Subscribe | Comments | Forum 

AVIC (Aviation Industry of China) International Holding Corp, an import and export subsidiary of China Aviation Industry Corp, said it has signed an agreement to deliver eight aircraft to the Democratic Republic of the Congo (DRC).

The aircraft, which will be delivered to LAC, the DRC's national airline, are six Modern Ark 60 (MA60) and two Y-12 light aircraft.

The MA60, produced by AVIC's subsidiary, Xi'an Aircraft Industry (Group) Company Ltd, costs between $14 and $15 million on the international market, two-thirds the price of civil airplanes produced by other global manufacturers.

The deal between AVIC and LAC, involving products, after-sales and equipment services, is believed to be worth more than $150 million.

The first two MA60s will be delivered to the DRC on June 20, 2011, and the remainder will be sent in three further batches, AVIC said.

Export-Import Bank of China will provide financial support to AVIC's project, the statement said.

China has in recent years been stepping up exports of civil and defense aircraft. In July, AVIC signed a contract with Venezuela to sell 25 multi-purpose Y-12 light aircraft and two helicopters.

AVIC said it has exported more than 100 Y-12 aircraft to 20 nations since 1986. Last year, the company exported 42 fighter aircraft to Pakistan. Industry analysts said Chinese aircraft companies are exploring new markets such as Egypt.

At present, Chinese trade with African countries is growing at a fast pace, outperforming that of China's major trade partners, including the United States and the European Union. China is currently Africa's largest trade partner.

From January to September this year, China-South Africa trade grew 50.6 percent year-on-year to $17.28 billion, compared with 31.5 percent for trade with the US and 34.4 percent for trade with the EU.

The African Development Bank predicted the continent's economy will grow 4.5 percent this year and 5.2 percent in 2011. Some African nations have far exceeded this rate, with economic growth this year in the DRC expected to rise 12 percent and by 10 percent in Angola.

Source:China Daily


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)
  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
Hot Forum Discussion