CCB Leasing International (CCBLI) has announced it is to establish its international headquarters in Ireland.

The firm is a wholly owned subsidiary of China Construction Bank (CCB), one of the world's largest companies.

It plans to grow its aircraft leasing business from 17 to 200 aircraft over the next five years.

"Ireland is an ideal launch pad for European, African and American markets and we aim to expand into shipping and other leasing activities from our Irish base in the future," said Mr Hongzhang Wang, Chairman of China Construction Bank at the opening ceremony.

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"CCBLI's international expansion of its aircraft leasing division is integral to the development of our transport portfolio and will assist in establishing CCBLI as a world leader in leasing business."

Minister for Business and Employment Ged Nash said: "I am very pleased on behalf of the Government to officially welcome the establishment of CCBLI's international headquarters in Ireland. Aircraft Leasing is an industry we have deliberately targeted as part of the Action Plan for Jobs and we now have half of the world's commercial aircraft fleet managed out of Ireland, creating employment for 1,200 people."

(CD/MH)