Russia and India could set up a joint venture to produce medium-lift military transport planes in the next months, Alexei Fyodorov, United Aircraft Corporation chief executive, said on Thursday during the AeroIndia 2009 show at Bangalore.
Hindustan Aeronautics Ltd, based in the city, is expected to be the Indian partner in the project. The Russian partner will be a company from the United Aircraft Corporation cargo-carrying division.
The planes will be based on the Ilyushin aircraft. The project is evaluated at $600 million, with Russia and India investing $300 each, and is expected to build over 100 airplanes. Russia is relying on the planes to replace its ageing medium-lift category fleet.
The countries signed an intergovernmental agreement on the joint development of planes of this category for the Russian and Indian air forces in late 2007.