PART signs Joint Venture agreement to build Aerospace Industrial Base in Yinchuan, China

Pacific Aerospace Resources and Technologies signed a joint venture agreement with a state owned company, Yinchuan Free Trade Zone Universal Airline Industry Investment and Development in Yinchuan, China. The Aerospace Industrial Base will be built in 3 phases with an estimated total investment of US$1.5bn. It will have aircraft repair and maintenance, leasing, manufacture, component trading and repair, engineering and certification as well as a training academy and a FBO. The first phase’s focus will be on the Aviation Park, component trading platform and engineering. “Our goal for the Aviation Park is to create a gateway for western aviation companies to enter the Chines market. Using the ‘Built to Suite’ approach, we will not only build the facilities each company needs, but assist in negotiations with the government, obtaining business permits and providing all the back office support including legal, finance, and human resources. We believe our services will save tremendous time and resources for Western Companies to enter the Chinese market; hence reduce their risk.” Says, PART Chairman of the Board, David Green.