Boeing is to take a 50 per cent stake in a US$100m airplane modification and repair joint venture in Shanghai, reported Xinhua. If the project receives authorisation from the State Development and Reform Commission and the Ministry of Commerce, the venture would start operations in 2005, said the company's China president, David Wang.
According to South China Morning Post, there will be five partners. Apart from Boeing, they are Shanghai Airlines, Shanghai Airport Group, ANA and Xiamen-based Taikoo Aircraft Engineering Co.