Aero Vision Asia To Invest RM53 Mln For MRO Facility In Senai Airport
March 06, 2017 20:04 PM
KUALA LUMPUR, March 6 (Bernama) -- Aero Vision Asia Sdn Bhd is expected to invest up to RM53 million to develop an integrated maintenance, repair and overhaul (MRO) facility at the Senai Airport Aviation Park (SAAP).
Its Senior Vice-President Corporate Planning and Strategy, Kamlesh Mavani said the first phase of the project entailed a RM25 million investment to develop an MRO facility on a 1.34-hectare site at the airport.
He said the facility was set to begin operation by the third quarter of 2018.
"The company has the option to expand its MRO facility and is expected to invest another RM28 million to develop it in the vicinity of the airport on yet another 1.34-hectare. It is expected to be completed by the fourth quarter of 2019," he said.
The Senai Airport Aviation Park is a 17.08-hectare development within the airport, dedicated for aviation-related services such as MRO, fixed-based operator activities, manufacturing and assembly centre, general aviation activities, and aviation training.
Mavani said the MRO service would help support the growing needs of the aviation industry in the region, and would cater to narrow-body aircrafts, propeller repair, maintenance and overhaul, non-destructive testing of aircraft, and aircraft painting and finishing works.
Speaking to reporters after the signing ceremony of Sub-lease Agreement between the company and Senai AirportTerminal Services Sdn (SATSSB) Bhd, he said the company was projected to garner a turnover of RM37 million in ten years' time upon commencement of operation.
The agreement was signed by Aero Vision Asia Chairman Mohamad Zawani Wahab and SATSSB Chief Executive Officer Md Derick Basir and witnessed by International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
In his speech, Mustapa said Aero Vision Asia's venture into MRO activities would support a vibrant MRO ecosystem at the SAAP.
He said this was in line with Malaysia's target under the Aerospace Industry Blueprint 2030 to capture a five per cent global market share of the MRO sector or RM20.4 billion.
Currently, the MRO sector's revenue stood at about RM5 billion and the investment of local company will further create opportunities for local supply chain development and employment of skilled workers, he said.
Mustapa said last year, nine aerospace projects with investments of RM1.6 billion were approved, of which 43.1 per cent was from domestic investors.
"We are also encouraging Malaysian companies to provide MRO services overseas, while encouraging foreign companies to provide their services here," he added.