Aircraft parts factory set for UAE

ABU DHABI: Aircraft parts factory has already agreed $2 billion worth of deals with partners. (Getty Images)

The investment arm of the Abu Dhabi government, Mubadala Development Co, said on Sunday that work will begin on June 29 to build a factory to produce composite parts for aircraft, to become operational in 2010.

Mubadala said in a statement that the project, called Strata, has already agreed deals to supply parts to manufacturers including Europe's EADS and Airbus, FACC of Austria and Italy's Finmeccanica subsidiary Alenia Aeronautica.

"Initial contracts valued at more than two billion dollars have already been agreed with these partners," the statement said.

Mubadala said the new factory would mainly produce light-weight composite wing parts for airbrakes, aelerons and fairings. Its planned opening is the third quarter of 2010.

Ross Bradley, formerly chief executive of the Farnborough Aerospace Consortium in Britain, had been named Strata chairman.

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