China Eastern Airlines and Shanghai’s Lingang Sign Deal on 7 Projects

China Eastern Airlines and Lingang Special Area signed an agreement to launch 7 projects with total investment exceeding 22 billion yuan. The projects have been designed to create an industrial cluster for the aviation sector.The agreement allows China Eastern Airlines to develop various businesses within Lingang Special Area, like Yangshan Special Comprehensive Free Trade Zone.

The businesses will include aircraft maintenance, engine repairs, manufacturing aviation ground facilities, and trading in aircraft parts. The director of the strategic development department of China Eastern Airlines, said that the construction of the Asia-Pacific one-stop aviation aircraft maintenance center has begun, and it is expected to be completed in mid-to-late August, and other projects are also being actively promoted. The two sides also signed a memorandum of cooperation to establish a synergy mechanism, give full play to the supporting role of central enterprises in local economic development, and promote relevant projects to be implemented with high standard and high levels. The project will further focus on transforming Shanghai into an international aviation hub and building an aviation industry cluster. The agreement calls for the projects to be completed in 5 years.