Dutch businessman Roel Pieper has reached a deal with the Russian authorities to build a $200m aircraft factory in Russia.

The deal, a joint venture with the Russian government, will produce the Eclipse 500 private jet, the Financieele Dagblad reports on its website.
Pieper’s own company ETIRC invested $100m in Eclipse Aviation in January 2007, according to US media reports. Pieper is currently CEO of the New Mexico-based aviation company, which US media say cut its workforce by 40% this summer in an effort to resolve financial problems.
The Eclipse is one of a new breed of very light aircraft. Pieper said demand was growing so strongly that extra production capacity was needed.