AN aircraft servicing joint venture will be set up in Shenzhen, according to a contract signed yesterday. The joint venture - the Shenzhen Aircraft Maintenance and Engineering Co - will be formed by the Shenzhen Airport Co, Singapore Aerospace, the Singapore-China Merchants Aviation Holdings and Zhangyi International Airport Services. Capitalised at US$10 million, the joint venture will undertake major overhauls of passenger and cargo planes, air route servicing and apron services. The Singapore Aerospace will provide technology and management experience to the joint venture. Shenzhen Airport, which started services in October 1991, has become the sixth busiest airport in China. Singapore-China Merchants Aviation Holdings is a joint venture between Singapore Aerospace and China Merchants Holdings. It was set up in September 1993 with the purpose of participating in the development and management of airports, maintenance of aircraft and other operations associated with the aviation industry.