Mubadala, the Abu Dhabi-based investment and development firm, and GE Aviation have agreed to form a maintenance, repair and operations joint venture.
The agreement will see the creation of a facility at the Nibras Al Ain Aerospace Park, and an unspecified direct investment by General Electric in the new venture.
GE will also set up a dedicated parts logistics centre for its GEnx engine to service the joint venture and regional GEnx operators, the companies said in a joint statement.
The transaction builds upon the maintenance partnership Mubadala and GE agreed to in 2013 and is part of Mubadala’s plan to become a key global supplier to GE by 2020.
Mubadala will expand its GEnx partnership with GE Aviation through its dedicated engine MRO subsidiary, Turbine Services & Solutions (TS&S).
Homaid Al Shemmari, CEO, Aerospace & Engineering Services, Mubadala said: “Our new GEnx JV MRO facility provides an important platform as we continue to expand Mubadala’s aerospace capabilities.
“Our longstanding relationship with GE along with our global vision and local expertise will make this new facility a success. It is Mubadala’s goal to become a diversified global aerospace supplier through partnerships like this.”
David Joyce, president and CEO, GE Aviation, added: “We are proud to partner with Mubadala to develop a world-class facility to support our GEnx engine customers in the Middle East and beyond.
“GE Aviation is committed to offering our customers the broadest choice of MRO products and services, and it is very fitting that GE ‘s fastest-selling engine will have an MRO footprint in one of the world’s most dynamic airline markets.”
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