February 15, 2013 / 10:11 AM / 5 years ago

Russia's Rostec in joint venture talks with Bombardier

MOSCOW (Reuters) - Russian state technology firm Rostec is in talks with Canadian planemaker Bombardier (BBDb.TO) 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.

    Reporting by Gleb Stolyarov; Writing by Alessandra Prentice; Editing by Douglas Busvine

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