The Bahrain Economic Development Board (EDB) is pleased to announce that AeroThrust Holdings LLC, USA has formally concluded a joint venture agreement with Bahraini partners to establish AeroThrust Gulf Aviation Services W.L.L in Bahrain. This follows a proactive outreach and consultation process by the EDB to support the decision to invest in Bahrain, as well as continuing support around the registration process. The announcement was made today at the second Bahrain International Airshow, and the Bahrain Civil Aviation Authority (BCAA) has also declared its support for the venture.
This joint venture is expected to leverage AeroThrust Holdings LLC, technical expertise in the aircraft engine MRO services sector. The company will provide full range of aircraft engine MRO services for the Pratt & Whitney JT8 and CFM International's CFM 56 series of engines.
The facility along with the test cell is expected to cover 94,000 Sqft. It will be completely dust free and incorporate the latest climate control technologies, tools and machinery.
AeroThrust Gulf Aviation Services W.L.L is expected to invest around USD 20 million over the next 3 years in its facility at Bahrain.
Shaikh Mohammed bin Essa Al-Khalifa, Chief Executive of the EDB, expressed his pleasure at AeroThrust Holdings LLC decision to make Bahrain their home in the Middle East. "Bahrain has a proud heritage in the aviation sector and offers a strong location and infrastructure from which to do business across the Gulf region. We have worked closely with AeroThrust Holdings LLC to provide them with all the necessary support and this investment is a demonstration of the benefits of locating in Bahrain. Going forward, we are keen to continue to work together as they build, staff and grow their operations in the Kingdom."
Mr. Mario Abad, Principal and Owner of AeroThrust Holdings LLC, is excited about this facility. "We considered a number of countries in the Middle East to establish an aircraft engine shop, ultimately, we chose Bahrain for its strategic location, excellent support from the EDB and most importantly for the vision demonstrated by the Government of Bahrain to develop the aviation and aerospace sector. The facilities in Bahrain will be on par with our Miami operations and will include Non-destructive Testing (NDT), Test Cell and Plating Operations."
Mr. Vijay Arumbakkam, Chairman, AeroThrust Gulf W.L.L, said that they are keen to service the engine MRO market in the Middle East, Africa and the Indian Sub Continent. "There are only a few established aircraft engine service providers in the Middle East and there is significant potential to assist and provide incremental value to airline operators that currently use either Europe or North America as their base for MRO services - in essence we are bringing a significant portion of the MRO services to their doorstep here from Bahrain."
Mr. Khalifa Alsada, CEO, AeroThrust Gulf W.L.L, is proud that Bahrain will have state of art engine MRO Facility. "We see this as a great opportunity for Bahrain to expand its presence in the aviation sector. We thank HRH King Hamad Bin Isa Al Khalifa for his relentless spirit and guidance to establish Bahrain as a leading investment destination in the Middle East, the EDB for their outstanding implementation support and the Bahrain Civil Aviation Authority for their timely assistance with respect to all certification and regulatory approvals."
Mr Ayman Obaidli, Board Member, AeroThrust Gulf W.L.L, is pleased that this joint venture provides an opportunity to train Bahrainis and help them acquire core technical skills in the MRO sector. He further added: "It is our long term vision to achieve a high level of indigenization and contribute to the development of the local work force."
Source: The Bahrain Economic Development Board (EDB)
Date: Jan 19, 2012