Slovenian Pipistrel Company Acts as a Co-investor of the Largest Construction Project in China
The Slovene Pipistrel Company together with its Chinese partner started construction of an aircraft manufacturing plant, an airport, a large residential complex, a tourist complex and a sports centre in a Chinese town of Jurong (suburbs of Nanjing) on Wednesday, 11 April 2018. The total budget of the project is almost 1 billion euros, 350 million euros of which were invested by Pipistrel.
The solemn foundation stone laying ceremony was attended by Slovenian Government delegation headed by the Minister of Infrastructure, Peter Gašperšič, and the Ajdovščina Municipality delegation led by the Mayor Tadej Beočanin. The event was also attended by partners from Slovenia and China.
It should be noted that Pipistrel has been leading negotiations for a long time with the Chinese partner concerning the implementation of joint investments, and Jurong appeared to be the best platform for these purposes. The operator of construction works is the Slovenian-Chinese company, in which Pipistrel owns 51 percent of capital shares, and the Chinese partner—49 percent. The Chinese partner also attracted other co-investors to participate in this project.
The whole complex will be located on an area of 135 hectares, 4 kilometres from the actively developing city of Jurong. Meanwhile, 53 out of 135 hectares will be allocated for the construction of residential facilities (houses for several thousand apartments, prestigious villas, a shopping and sports centre). In the rest of the territory, an airport building, a runway, an aircraft manufacturing plant and the Air Transport Academy for training pilots will be built. The Chinese side is already building a highway and develops subway connection with the new infrastructure facility.