The Zhoushan Boeing Completion Center, a joint venture (JV) of Boeing Co and Chinese aviation manufacturer Commercial Aircraft Corp of China (COMAC), was officially announced on Tuesday in Zhoushan, East China's Zhejiang Province.
The Boeing COMAC Joint Project Center was also announced at the signing ceremony, said a report on industry website carnoc.com.
Located in the Zhoushan Aviation Industrial Park, the JV is Boeing's first overseas completion center for its 737 production system, and also the first case of strategic cooperation between the US aviation giant and COMAC.
The plant in Zhoushan will provide services such as installation, coating, repair and maintenance of Boeing's 737 MAX aircraft.
It is forecast that construction of the first phase of the plant and supporting facilities will be completed in May 2018.
The JV is expected to be able to deliver 100 aircraft a year, with the first delivery expected to be made by the end of 2018.
Relying on the completion center, Zhoushan will also make efforts to develop the aviation industrial park, accelerating the development of a complete aircraft manufacturing chain, local news site zhoushan.cn reported in May. The park aims to assemble, deliver and modify 600 aircraft a year by 2025 and realize production value of more than 70 billion yuan ($10.56 billion) every year.