Chinese company to build pilot training center in Singapore

BEIJING - Sichuan Haite High-Tech Co Ltd will invest S$95.3 million to set up an aviation training center in Singapore, the first major investment in Singapore by a Chinese company in the aviation business.

According to the Chinese company, the Haite High-tech Singapore Aviation Training Center is expected to be operational by early 2015, making it the largest pilot training center in Singapore.

According to Haite, prospects for the aviation training market in the Asia-Pacific region are very bright over the next decade. During this period, some 44,000 pilots will be needed to support the growing aircraft fleets, creating huge potential for the pilot training market.

Sichuan Haite High-Tech Co Ltd is currently the only company in the business of aviation maintenance listed on the country's stock exchange. Its total asset value stands at 40 billion yuan ($6.5 billion).