Abu Dhabi government-owned investment fund Mubadala plans to launch an $800m military aircraft maintenance and repair joint venture in Al-Ain.
Mubadala announced the joint venture with US-based United Technologies at the UK’s Farnborough Airshow.
The new centre, called the Advanced Military Maintenance, Repair and Overhaul Centre (AMMROC) will be set up through Mubadala’s Abu Dhabi Aircraft Technologies (Adat) and Sikorsky Aerospace Services, which is part of Sikorsky Aircraft Corporation, a subsidiary of United Technologies.
The new facility will serve aircraft in the UAE and other countries and is expected to create about 1,000 new job opportunities in the UAE within the first five years of operation.
Mubadala Development Company is also overseeing the development of Sowwah Island in Abu Dhabi, which is located between Reem Island the port area of Abu Dhabi Island.
Mubadala Development Company invited contractors to prequalify for the contract to build the Four Seasons hotel on Sowwah Island (MEED 16:7:10).