Motor Sich, China's Skyrizon could build aircraft engine plant in China
China's Skyrizon and Ukraine's Motor Sich are planning to build a plant in Chongqing (the central part of China) at which they will produce and service aircraft engines under Ukrainian technologies, First Deputy Prime Minister of Ukraine Stepan Kubiv has said.
"The company plans to invest $250 million in upgrading the Ukrainian production and design facilities of Motor Sich," he wrote on his Facebook page following a visit to China.
PJSC Motor Sich is one of the world's largest manufacturers of aircraft engines, as well as industrial gas turbines. It delivers products to more than 100 countries.
In January-March 2017 the consolidated net profit of Motor Sich, in accordance with IFRS, amounted to UAH 1.457 billion, which is 4.8 times more than in the same period in 2016 (UAH 304.67 million), net income grew by 63.4%, to UAH 3.431 billion.