The plant will roll out AW139 medium twin choppers and the production is the first of its kind in Russia, allowing domestic helicopter makers to tap into modern technologies of the West.

"We will gain access to new technical production solutions and high helicopter servicing quality standards," Oboronprom's General Director Andrei Reus said, according to a joint statement issued from the two companies. "We will seek to broaden our cooperation, including by gradually localizing Italian helicopter manufacturing in Russia."

Oboroprom is part of Russian Technologies State Corp and the company's Italian partner in the venture is AgustaWestland, a Finmeccanica company. Russian Helicopters is a subsidiary of Oboronprom.

The $50 million project also offers opportunities to the Italians.

"Manufacturing helicopters here with Russian Helicopters is important because we can have access to this market," said Giuseppe Orsi, CEO of Agusta Westland. "And helicopters are not paying the import taxes since they are manufactured here."

Under the investment plan, both sides will split profits equally, while the plant is expected to produce at least 10 helicopters a year.

A first batch of five will roll out by the end of 2011. A similar Russian, Italian partnership forged the successful venture for the production of the Sukhoi Superjet. The helicopter project is the second aircraft project to be developed.

The Russian side has said that the helicopters produced in the country will be sold primarily within Russia and the CIS, although they may be marketed worldwide through Agusta Westland's international network.

The AW139 has a takeoff weight of 6.4 metric tons, can carry up to 15 passengers and can be used as a corporate or VIP vehicle. It can as well be deployed for offshore, emergency, rescue and firefighting operations.

"Russian Helicopters is increasing its presence in foreign markets, delivering Russian rotorcraft to foreign customers and opening service centers," Russian Helicopters COO Andrei Shibitov said. "In this respect we are greatly interested in the foreign experience of organizing, managing, planning, certificating production processes and know-how in managing the entire lifecycle of a product.

Under the agreement, the helicopter plant will be managed by a joint venture called HeliVert. It has been agreed that by 2016, 40 percent of the assembly parts will be made in Russia and the rest in Italy.

Experts forecast the deal will pose tough competition to leading Russian helicopter-makers like Kamov and Mil.

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