Thursday, 16 October 2008 |
updated 1 minute ago
06:29 UAE time

YOUR DIRECTORY /

Mubadala signs second aerospace deal

by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 19 June 2007

State-owned investment vehicle Mubadala is to work with US defense contractor Lockheed Martin as part of Abu Dhabi’s drive to establish the emirate as a global player in the aerospace industry.

Mubadala said on Tuesday the two companies have signed a memorandum of understanding (MoU) to collaborate on projects related to the maintenance, repair and overhaul (MRO) of military aircraft, and on research and development (R&D).

"This MoU signifies our mutual interest to explore ways in which we may both collaborate and address sustainment, maintenance, repair and overhaul, engineering and technical support of military aircraft," said Waleed Al Mokarrab Al Muhairi, Mubadala chief operating officer (COO).

Story continues below ↓

"We see an opportunity in creating sustainment programs across several platforms, such as the F16 Block 60 Desert Falcon, C-130 Hercules, Mirage 2000, Hawk and PC7," he added.

The aerospace agreement is the second Mubadala has signed in as many days.

The investment company penned a similar MoU with US aviation giant Boeing on Monday, with the aim of making Abu Dhabi a hub for the production of advanced aerospace components and raw materials.

Boeing is also set to help Mubadala in establishing a centre in Abu Dhabi dedicated to aerospace R&D.

Dubai Aerospace Enterprise (DAE) is also set to collaborate with Boeing on developing Dubai’s aerospace industry.

The two companies signed a MoU on Monday to collaborate in the areas of aircraft services, customer education, financing, and MRO.

Aviation is a key industry for the UAE’s economy and the country now has two well-established carriers and is in the process of building the world’s biggest airport in Jebel Ali, Dubai.

However, the UAE is not yet seen as a global force in the manufacture of aircraft components and technology, or in the field of military aircraft, and the three agreements signed in the last two days are a clear sign of the UAE’s intentions to establish itself in this space.

READERS' COMMENTS

View all comments (0)

Have your say

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.

Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country

Subject *

Comment *


Notify me of further comments
Security Code *
Please click post only once - your comment will not be published immediately.