Russia's Rostec in joint venture talks with Bombardier

Fri Feb 15, 2013 5:00am EST
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MOSCOW Feb 15 (Reuters) - Russian state technology firm Rostec is in talks with Canadian planemaker Bombardier over a possible multi-million dollar joint venture to build Q400 aircraft in Russia, its head Sergei Chemezov told Reuters.

If the venture were to go ahead, the state-owned industrial and defense conglomerate formerly known as Russian Technologies would help make the Q400 turboprop planes in a bid to break into the Russian medium-range aircraft market.

Russia is seen as an important growth market for top global plane manufacturers such as Bombardier rivals Boeing and Airbus, among others.

"We proposed creating a joint venture with Bombardier to produce aircraft ... we estimate investment in the project would be around $100 million," Chemezov said in an interview.