AVIC bags big deal in Venezuela

16:25, July 13, 2010      

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AVIC (Aviation Industry of China) International Holding Corp has bagged a big overseas contract in Venezuela, sources familiar with the matter said on Monday.

The import and export subsidiary of aerospace conglomerate Aviation Industry Corporation of China signed a contract last Friday with two Venezuelan partners to deliver 25 multi-purpose Y-12 light aircraft and two helicopters, said the sources.

No financial details or a time frame for the deliveries were immediately available.

The contract is part of a framework agreement between the two countries signed in April this year. AVIC had entered into an agreement with Venezuelan fund Fundagrial, and a local company Sireca for aircraft exports.

According to the agreement, the Chinese company will export 33 civil airplanes to Venezuela over the next five years and also provide after-sales and equipment services.

Though the first contract covers only 27 aircraft, the remaining six will be included in a subsequent contract, said AVIC sources.

AVIC was constituted in 2008 by merging China Aviation Industry Corporation I and China Aviation Industry Corporation II.

The airplanes will be produced at AVIC Helicopter Co, a joint venture between Aviation Industry Corporation of China and Tianjin municipal government.

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