Abu Dhabi: Dubai-based investment firm Markab Capital has signed an agreement with Italian firm Super Jet International for the assembly, installation and production of civil aircraft in the UAE.
Abdullah Al Qubaisi, Chairman and CEO of Markab Capital Company, said an investment of $180 million has been committed to build a ‘first of-its-kind’ factory in the Arab world. “The facility can manufacture 10 to 15 aircraft annually in the first production phase,” he added. “A rise in the production capacity will be based on the received requests.
“The facility will be a qualitative addition to the aviation industry sector in the country.”
It has not been revealed where the new facility will be built. Al Qubaisi stated that the UAE has successfully manufactured aircraft components and is entering a new era in assembling, installing and manufacturing aircraft. Al Qubaisi said Markab Capital would also train and develop UAE Nationals in the civil aviation industry as part of its strategy.
The UAE is home to two aircraft components manufacturing hubs - Strata and Sanad. Based in Al Ain, Strata manufactures aircraft components and has billion-dollar contracts with Boeing, Airbus, Leonardo in Italy and Switzerland’s Pilatus Aircraft.
And Sanad was formed in 2019 after Mubadala merged three of its units – Sanad Aerotech, Sanad Powertech and Sanad Capital. It provides financing, leasing and maintenance services to the global aerospace, energy and industrial sectors.