MGAE CLOSES DEAL FOR SHAMSHABAD MRO FACILITY

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By TESTCustomwebLP TESTCustomwebLP January 4, 2011 14:55

MGAE CLOSES DEAL FOR SHAMSHABAD MRO FACILITY

MAS GMR Aerospace Engineering (MGAE) has closed a deal for the financing of its proposed Aircraft Maintenance, Repair and Overhaul (MRO) facility at Shamshabad airport.

The Overall project costs Rs.309 Crore, which is being funded with Rs.77 crore of equity and Rs.232 crore of debt. The debt is syndicated among M/s State Bank of Hyderabad, M/s Andhra Bank and M/s State Bank of Bikaner & Jaipur.

The MRO facility is designed to perform base maintenance checks with one wide body, two narrow body and one narrow body cum paint hangars. The hangars will be supported by the workshops that are necessary for airframe heavy maintenance.

MGAE initially will perform Base Maintenance Checks (C & D checks) for Boeing family B737 NG, B 777, Air Bus family – A 319, A 320, A 321 and A 330, ATR family 52/72, types of aircrafts. The facility is anticipated to be in operation from July 2011 with necessary certifications from DGCA and EASA.Additional info: MAS GMR Aerospace Engineering Company Limited (MGAE), the airport-owned -and-operated third party maintenance, repair and overhaul (MRO) facility at Rajiv Gandhi International Airport, Hyderabad, has achieved financial closure.

MGAE is a 50-50 joint venture between GMR Hyderabad International Airport Limited (GHIAL) and Malaysian Aerospace Engineering (MAE), a subsidiary of Malaysia Airlines Systems Berhad (MAS).

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By TESTCustomwebLP TESTCustomwebLP January 4, 2011 14:55
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