Business | Aviation
India's Livewel to invest $80m in Aviation City
India's Livewel Aviation Services will invest $80 million in a 23,960 square metre maintenance, repair and overhaul (MRO) facility within Dubai World Central Aviation City's area, which will be operational by 2009, a statement said.
- Staff Report
- Published: 23:27 November 14, 2007
Dubai: India's Livewel Aviation Services will invest $80 million in a 23,960 square metre maintenance, repair and overhaul (MRO) facility within Dubai World Central Aviation City's area, which will be operational by 2009, a statement said.
This is the third such deal signed by the newly launched DWC Aviation City, which will be home to the largest MRO centre in the world.
"India's expertise in the $41 billion global MRO market is highly respected worldwide and our agreement with Livewel will bring in the right resources, and personnel to this region," said Abdullah Al Quraishi, CEO, DWC Aviation City.
"With the Middle East MRO market growing at eight per cent annually over the next five years, DWC Aviation City has been launched at an appropriate time as demand is expected to grow at a compound annual growth rate. With newly placed airline orders every year the region's aviation services industry is taking off to a good start."
DWC Aviation City will be the regional centre for aviation manufacturing, MRO, aviation support services and consultancy, research and development, training, aviation products and parts and high tech industries.
Livewel's facilities will carry out aircraft heavy maintenance for wide and narrow bodied type of aircrafts, making it a preferred aircraft maintenance company in the region for airlines. The MRO will employ approximately 500 aviation professionals during the first year.
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