Quebec's investment in jet boosts Bombardier site in Belfast
The Quebec government is to invest 1 billion US dollars in development of a next generation jet part-produced in Northern Ireland.
Bombardier is Northern Ireland's largest manufacturing employer but there has been uncertainty over the production of a narrow-bodied passenger plane known as the C Series.
It is headquartered in Montreal, Quebec, in Canada's south east, but many jobs in Belfast rest on the success of the enterprise.
The Quebec government has conditionally agreed to buy a 49.5% equity stake in a limited partnership established to complete the C Series programme.
Alain Bellemare, president and chief executive of Bombardier, said: "Today, we are proud to announce that the government of Quebec will invest 1 billion dollars in the C Series aircraft program.
"This partnership comes at a pivotal time, with the C Series on the verge of certification.
"The market is there, our leadership is in place, we have the best product and with the support of the government, we are ready to make this aircraft a commercial success."
Bombardier employs more than 5,000 people in Northern Ireland. It has large premises in East Belfast where it makes the C Series wings.
The investment has been approved by the board of directors of Bombardier and the Cabinet of the Government of Quebec but remains conditional upon the completion of definitive agreements, the completion of an internal reorganisation, regulatory approvals and other conditions.
A Bombardier statement said: "The proceeds of the investment will be used entirely for cash flow purposes of the C Series program."