Greece's Hellenic Aerospace Industry will cooperate with Russia's Irkut to build its new MC-21 plane, which aims to rival the Airbus A320 and Boeing 737 passenger aircraft, the Greek company said on Wednesday.
The MC-21 is scheduled to enter the market by 2014 and will be able to carry 150, 180 or 220 passengers, Russia's Industry minister Victor Khristenko, said after meeting Greek Development Minister Christos Folias in Athens late on Tuesday.
"HAI will participate in the design and construction of sections of Irkut's MC-21 passenger aircraft under development," the company said in a statement.
The Russian aircraft manufacturer, majority owned by compatriot United Aircraft Corporation, said earlier this year it was in talks with China over a possible joint venture to develop the civil aircraft project worth USD$6 billion.
It has also said deals could be signed with suppliers looking to contribute to building the three versions of the plane.
"Cooperation between the two companies... will start as soon as the design is initiated," said Khristenko, who gave Folias a miniature MC-21 as a present.
"You can start such a project, knowing you will sell at least 2,000 aircraft. The share of the market it can conquer is by far larger," he said.
Folias said it was impossible to estimate the value of the agreement, and that it depended on demand in Europe.
The MC-21 will mark an expansion by Irkut from the military to the civil aviation market, which the company hopes will account for around half of its business by 2025.
Russia's only other new commercial aircraft under development since the fall of the Soviet Union is Sukhoi's Super Jet 100, which is being developed in partnership with Italy's Alenia Aeronautica.
The firm aims to compete with industry leaders Boeing and Airbus.
