By Andy Sambidge
Dubai World Central signs agreement with STTC to invest in centre which is due for completion in Q1 2017
Dubai World Central, the world's first purpose-built aerotropolis, announced on Tuesday the signing of a strategic agreement with STTS Group to invest in an aircraft painting facility.
Under the agreement, STTC a major player in aircraft painting, headquartered in Blagnac, France, will invest in a multi-purpose facility worth over AED150 million $40 million).
It will initially cater to narrow body airlines, VIP aircraft as well as business jets but could develop into a capacity to service wide body aircraft, including the Airbus A380, a statement said.
Scheduled for completion in the first quarter of 2017, it will be the Middle East's first, independent aircraft facility to use state-of-the-art OEM-approved painting technology.
It will be built to handle 25 wide body aircraft and 35 narrow body aircraft on an annual basis.
Speaking at the signing ceremony, Rashed Bu Qara'a, chief operating officer, Dubai Aviation City Corporation said: "With this new partnership, DWC has come closer to its ambition of becoming the only hub outside of North America and Europe to offer a complete ecosystem to the aviation and aerospace industry.
"We are setting the stage to enable our partners to connect better with a flourishing regional market and, by extension, to the global market."
Christophe Cador, CEO and president, Finaero, holding company of the STTS Group, said: "It is a great and challenging opportunity for STTS Group to be able to serve the Middle East market from Dubai World Central.
"We have decided to invest in an environment friendly and state of the art operational setting. In line with our other operations, quality and OTD (on time delivery) will remain our main focus."
The STTS facility adds to the DWC aviation and aerospace ecosystem, which now includes the recently announced 13,705 sq m Falcon VIP Completion Centre.