(Yicai Global) July 10 -- Emerging Eastern Aviation Equipment, a supplier of some key aircraft parts for China's air force, will invest at least CNY1 billion (USD145 million) to construct a factory to produce aviation power system equipment in eastern China's Nanjing.

Emerging Eastern Aviation penned an investment agreement with the management committee of the Nanjing Airport Hub Economic Zone regarding the plant that will make electrical equipment for civil and fighter aircraft as well as helicopters, the Beijing-based firm said in a statement yesterday. The firm also plans to develop power systems for electric aircraft.  

The company will invest CNY200 million (USD29 million) to set up a unit in Nanjing to execute the project that will be located close to the Nanjing Lukou International Airport. 

Editor: Emmi Laine