Project
The JF-17 is being built by Chengdu Aircraft Industry Corporation (CAC), and the Pakistan Aeronautical Complex (PAIC) is expected to license produce it at a later stage. Initial reports claimed that the aircraft was based on the design of the MiG-33, a proposed single-engined version of the MiG-29, which was rejected by the Soviet Air Force. However, the FC-1/JF-17 is instead derived from the "Super Seven" project, not the Project 33 (not to be confused with the MiG-33) or the failed Chengdu J-9. Indications are that MiG assisted the program by contributing their light fighter design as well as providing additional design & development assistance.
The project is expected to cost about $500 million (USD), divided equally between China and Pakistan, while each individual aircraft is expected to have a fly-away cost of $15-20 million. Pakistan has announced that it will procure 150 planes by 2015, which will replace the MiG-21 derived Chengdu F-7. Other countries which have expressed interest in purchasing the JF-17 are Egypt, Bangladesh, Nigeria, Burma, Zimbabwe, Morocco and Algeria.