OREANDA-NEWS. May 2, 2012. V. Masalov, Director General of FSUE “Gas-Turbine Engineering RPC “Salut”, and I. Kravchenko, Chief Designer of SE “Ivchenko-Progress”, have made final arrangements to establish a Joint Venture for the manufacture of D-27 engines. The signing of a relevant Agreement is expected next May.

The scope of activities for the Joint Venture will include D-27 marketing, servicing and overhauls. The JV partners are to participate in the shares on a fifty-fifty basis.

“If the Joint Venture becomes holder of the intellectual property rights for the engine, we are prepared to envisage the final assembly taking place in Ukraine,” – said Vladislav Masalov. Salut's Director General added that “the subassembly manufacturing cooperation can also be subject to readjustments. What is paramount for us is the project profitability.”

The MoU on the Joint Venture startup was signed between the parties in November 2011 during the Dubai Airshow-2011.