Tokyo - Mitsubishi Heavy Industries Ltd announced Friday its plan to establish a passenger jet production company in 2013. The new company, to be located in the western Japanese city of Nagoya, is to take up manufacturing passenger planes for the Mitsubishi Regional Jet project.
Mitsubishi Heavy would invest about 3 billion yen (30.20 million dollars) initially, but it expects to increase the capital to 100 billion yen, Jiji Press said.
The company has requested other Japanese firms, including Toyota Motor Corp, to jointly invest a third of the finalized capital.
Two thirds of the investment would be shouldered by Mitsubishi Heavy.
All Nippon Airways Co has already ordered 25 planes.
MRJ began developing small passenger jets with 70-90 seats in 2003 and plans to market the products by 2012.
The light-weight planes aim for fuel-efficient performance.
