Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Saudi Deputy FM meets Lt. Gen. Al-Burhan of Sudan    Al-Khateeb: Saudi Arabia is the largest global investor in tourism sector "Saudi Land" pavilion inaugurated at World Travel Market in London    Saudi Crown Prince, Japanese PM discuss over phone efforts made to achieve peace in the region    Saudi Arabia, in its drive to enrich Arab culture, launches Arab Week at UNESCO in Paris    Neymar exits Al Hilal match with muscle injury, leaving fans disappointed    AlHisn Big Time Studios unveiled to transform film and TV production in Riyadh    Saudi Arabia approves cooperation agreement with US for the use of outer space for peaceful purposes    Quality of Life Program CEO highlights Saudi urban transformations at UN-Habitat conference in Cairo    Almarai wins 'Best Corporate Sukuk' at Asset Triple A Islamic Finance Awards    Top climber falls to death after rare Himalayan feat    US voters flying home in time for election    Drones and snipers on standby to protect Arizona vote-counters    India's Modi condemns violence after Canada temple incident    Elon Musk can keep giving $1m to voters, judge rules    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Quincy Jones, titan of US music, dies aged 91    Hidden sugars in Asia's baby food spark concerns    HONOR unveils pre-order of the stunning HONOR MagicBook Art 14 Featuring an ultra-slim design, HONOR Eye Comfort Display and AI Cross-OS WorkStation    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi, Indian aviation sector eyeing foreign investment
Published in The Saudi Gazette on 09 - 03 - 2016

Aviation and space leaders from Saudi Arabia and India have sent out strong signals that they are ready to partner on foreign direct investment (FDI) projects within their own markets and say that time is right to collaborate as their industries are on an upswing.
Leaders of Saudi Arabia's and India's expanding aerospace sectors laid out the investment business case at the Global Aerospace Summit in Abu Dhabi.
Abdulrahman Altayeb, Advisor to the Director General on Privatisation and VP Fleet Management and Agreements, Saudi Arabian Airlines, said that the Saudi aviation landscape, which is currently undergoing increased liberalization, privatization and expansion, will see its fleet and passenger numbers double within a few years.
Predicting the country's aviation landscape over the next 15 years, Abdulmohsen O, Aynousah, Director Technical Sales & Marketing, Saudi Aerospace Engineering Industries (SAEI) that within the space of one and a half decades, the Kingdom would be self-sufficient in assembly and maintenance within the components sector.
"For those people who have cash in their pockets, this is the time to move into the Kingdom," he said.
Altayeb, meanwhile, believes that the sector will contribute between 10-15% of the country's non-oil GDP within the 15 years – up from its current level of 2%. "The aviation sector is being given a lot of importance," he said.
Cross-border partnerships were held up by the panel as the way forward as Saudi looks for long-term self-sufficiency within the aviation sector.
"We are now training people to become involved in second tier assembly of aircraft parts – the first stage in the manufacturing process. It requires a lot of investment to provide the skills to the level required for the manufacturing sector."
We are gradually moving into the assembly of aircraft. We are committed to provide bring value-added work to the Kingdom with quality and at low cost," said Yahya Al Ghoraibi, CEO, Alsalam Aircraft Company.
Last month Ukrainian aircraft manufacturer Antonov signed an agreement with Saudi Arabia's Taqnia Aeronautic to open an assembly plant for An-132 transport aircraft in the Kingdom while the company also signed an agreement with Sikorsky, a Lockheed Martin Company to jointly explore helicopter production opportunities in Saudi Arabia.
"Alliances have to take place to move our agenda along," said Abdullah Alosaimi, Chief Executive Office, Taqnia Space. We now have a number of MOUs in place with LufthansaTechnik and Air France/KLM.
Taqnia Space recently signed an agreement with Lockheed Martin and the King Abdulaziz Centre for Science and Technology to explore future design, manufacture, assembly and integration of satellites in Saudi Arabia.
Meanwhile, S.P Shukla of India's Mahindra Aerospace said that his country, currently the world's largest importer of defense equipment, will become the third largest aerospace market by 2020.
Shukla identified key investment areas as design, component manufacturing, aircraft assembly and MRO.
He said: "Within the MRO sector the bottlenecks are being sorted out little by little. It's now a matter of time before we see MRO hubs emerging in India."
He added that India's civil aviation policy will be formalized very soon and that Mahindra aims to set up operations in Abu Dhabi in the near future. Mahindra in currently the only Indian company that produces aircraft, selling them in 30 countries including in the US and in parts of Africa and Asia.
Prince Sultan Bin Salman Bin Abdulaziz Al Saud of Saudi Arabia, the first Arab to go into space, confirmed the nation's ambitions and commitments towards developing the aerospace and space sectors whilst giving a keynote address at the second day of the Global Aerospace Summit, which is hosted by Mubadala.
Around 1,000 C-level executives and from 59 countries attended the two-day Summit where they discussed the most pressing issues and trends within the aviation, aerospace, space and defense industries. Organized by Streamline Marketing Group, the Summit is an invitation-only strategic forum, covering a wide-range of topics including globalization, workforce challenges, air traffic management, safety and sustainability. — SG


Clic here to read the story from its source.