New Delhi, Dec 5 (UNI) Services Pvt Ltd, country's leading airport services provider, today said it will invest Rs 320 crore to set up a 24,000 square metre maintenance, repair and overhaul (MRO) facility in newly launched Dubai World Central Aviation City.
''We will invest Rs 320 crore in two to three phases to establish a fully equipped modern world class MRO in Dubai which will primarily focus on cabin interior refurbishment, aircraft painting, c-check and line maintenance,'' Livewel Group Chairman and Managing Director M F Daver told reporters here.
The new facility, expected to operational by 2009, will employ about 500 aviation professional during the first year of operations and will increase it by 20 per cent every year, he said.
With various options in hand to raise the funds for the project, Mr Daver said the company may dilute about five to ten per cent or approach financial institution, beside generating money through internal accruals.
''However, we have no plan to launch IPO and want to remain a fully-owned company,'' he clarified.
The MRO facility, having two bay wide-bodied aircraft hangar large enough to accomodate A-380 aircrafts, will cater to customer airlines and private non-scheduled operators within the West Asia, Indian and the Europe, Mr Daver said.
Livewel Aviation Services, founded in 1990, has no plan to open such facility in India as the country does not have enough space for constructing hangers, he said.
The company has also signed an agreement with Jebel Ali Airports to establish aviation training college along with airline support services centre, which will be operational before the Dubai Air Show 2009.