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)
(Reporting by Katie Paul, Editing by William Maclean) ((william.maclean@thomsonreuters.com ; +97143664253; Reuters Messaging: william.maclean.thomsonreuters.com@reuters.net: Twitter: @WMacleanR))
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)
(Reporting by Katie Paul, Editing by William Maclean) ((william.maclean@thomsonreuters.com ; +97143664253; Reuters Messaging: william.maclean.thomsonreuters.com@reuters.net: Twitter: @WMacleanR))
