A joint venture between Commercial Aircraft Corporation of China, Ltd. (Comac) and Russia’s United Aircraft Corporation (UAC) to develop a long-haul widebody aircraft (provisionally designated Comac C929) has been registered in China, as follows from UAC’s annual report. The establishment of the venture marks the official start of the project.

Known as China-Russia Commercial Aircraft International Corporation, the joint venture’s scope includes the development, production, marketing, and aftersales support of a long-range widebody aircraft.

The UAC and Comac have equal shares in the project.

The project, which originally called for launching the JV at the end of 2016, has been leaning more toward the Chinese side, as both its headquarters and the projected final assembly line will be established in China. Additionally, the JV will be headed by Guo Bozhi, general manager of Comac’s widebody arm. The primary Russian representative on the project, UAC’s Sergey Fominykh, will serve as a member of the board of directors.

The aircraft to be developed is expected to find the greater share of customers on the Chinese market. Later this year, General Electric and Rolls-Royce are expected to contest the right to provide the aircraft’s powerplant. The overall market is projected at between 800 and 1,000 aircraft, with deliveries starting in 2027.