UPDATE 1-Russia's Rostec in joint venture talks with Bombardier

Fri Feb 15, 2013 6:44am EST
 
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* Rostec head says investment would be $100 million

* Plans to collaborate on Q400 medium-range aircraft

* Russia seen as key growth market for plane makers

By Gleb Stolyarov

MOSCOW, Feb 15 (Reuters) - Russia's Rostec is in talks with Bombardier over a possible multimillion-dollar joint venture to build the Canadian plane maker's Q400 aircraft in Russia, the head of the state-owned technology company told Reuters.

The industrial and defense conglomerate formerly known as Russian Technologies hopes to break into the medium-range aircraft market in Russia, which international manufacturers such as Boeing, Airbus and Bombardier view as an important growth market.

Boeing has predicted that Russia and its neighboring states will take delivery of 1,140 new aircraft over the next 20 years, valued at $130 billion.

"We proposed creating a joint venture with Bombardier to produce aircraft," Rostec's Sergei Chemezov said in an interview. "We estimate investment in the project would be about $100 million.   Continued...