The Malaysia Airports Holdings Berhad (MAHB) signed two agreements with Singapore-based Boustead Projects Limited (Boustead) and TP Aerospace Malaysia Sdn Bhd (TPAM) to set up a joint venture (JV) company to develop a 29-acre aerospace park within the Subang Aerotech Park.
With the aim to boost the Subang Airport Regeneration initiative, MAHB, which will hold a 30-per cent stake in the JV, is developing the common infrastructure, including roads, electricity and water supply, at a cost of RM40 million. Boustead, which owns the remaining stake, will be tasked with the park’s design, construction and facility management.
TPAM will invest RM2 million to operate a maintenance, repair and overhaul (MRO) facility for wheels and brakes, with approval from the Civil Aviation Authority of Malaysia.
Speaking to Free Malaysia Today after the signing ceremony on March 27 2019, MAHB group CEO Raja Azmi Raja Nazuddin said companies that manufacture aircraft parts or provide MRO activities want a facility that is built to suit their needs in the aerospace park.
“The tenant will then rent the facility from us for a long time, and this is attractive to them because they do not need to pump in huge amounts of capital, it is almost like a ‘plug and play’ concept.”
Raja Azmi said MAHB is committed to making Malaysia the preferred aerospace nation in the region and an integral part of the global supply chain as outlined in the National Aerospace Blueprint 2015–2030.
The event was attended by Transport Minister Loke Siew Fook and Selangor Menteri Besar Amirudin Shari, where Loke welcomed the collaborations to make Malaysia an MRO hub. — Construction+ Online
