🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

AIRSHOW-Saudi Aerospace says to launch maintenance facility in Jeddah

Published 09/11/2015, 08:38 pm
Updated 09/11/2015, 08:40 pm
© Reuters.  AIRSHOW-Saudi Aerospace says to launch maintenance facility in Jeddah

DUBAI, Nov 9 (Reuters) - Saudi Aerospace Engineering Industries said on Monday it planned to build a 2.87 billion Saudi riyal ($765.33 million) aircraft maintenance, repair and overhaul facility in Jeddah in a joint venture to be led by Turkish airport builder and operator TAV.

In a statement, the Saudi company said the one million square metre (10.7 million square feet) facility would do both civil and military work and be the largest such installation in the Middle East. The joint venture would also include Al Habtoor Leighton Group (HLG) and Al Rajhi Construction.

Planned for completion at the end of 2016, the facility would comprise 11 aircraft hangars and 28 aircraft component shops.

($1 = 3.7500 riyals)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.