Abu Dhabi will build its own business jet within nine years, investment powerhouse Mubadala has vowed.
It comes as the state-run fund continued to strengthen its aerospace muscle yesterday in a manufacturing deal with Airbus.
In the clearest sign yet of the timetable it has set itself to become a top-tier aerospace player, Homaid Al Shemmari, Mubadala's associate director business development, said: "Our ambition is to build an aircraft in Abu Dhabi by 2018."
The favourite partner for any airframe manufacturing venture is Piaggio, the Italian maker of the iconic Avanti twin-pusher, which Mubadala co-owns along with Indian combine Tata. Genoa-based Piaggio is developing its first business jet, although few details have emerged about the design or its likely launch date.
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"What we do will be in partnership with someone and Piaggio is our current platform," says Al Shemmari.
Mubadala has in the past two years made a number of key aerospace investments. Other than Piaggio, it has a majority stake in Swiss maintenance, repair and overhaul specialist SR Technics, and wholly owns local MRO house Abu Dhabi Aircraft Technologies, and Al Ain-based Horizon Flight Academy.
This week it officially began construction of an aerostructures business in Al Ain called Strata, which from 2011 will manufacture components for Italy's Alenia Aeronautica as well as - in the deal announced with Airbus yesterday - aileron composite panels and aileron shipsets for the A330/A340. The contract follows an agreement signed with Airbus parent EADS in November 2008.
Al Shemmari says all the investments are aimed at creating a capital-intensive, high-value aerospace industry in Abu Dhabi. Although Strata will initially "build to print", the aim is for it to become a first tier supplier, with engineering, design and research and development capability within three years, he says.
"We are targeting new technologies. It's not like the Chinese or Indian model. We want to create a world-class education system around aerospace and aviation, diversify our economy, create sustainable businesses and provide career opportunities for UAE nationals," he says.
"Everything is a pull into Abu Dhabi. Our investments are not just capital plays, although they all make financial sense. But everything has to be tied into diversifying our economy."
Source: Flight Daily News
