Mumbai-based airport services provider Livewel Aviation Services will invest Rs 320 crore to set up a state-of-the art Maintenance, Repair and Overhaul (MRO) facility capable of handling aircraft the size of Airbus A380, at the Jebel Ali airport in Dubai’s World Aviation City by 2009, Livelwel group chairman and managing director M.F Daver told reporters at a Press conference here on Wednesday.
“The MRO will meet international aviation certification standards and will primarily focus on airframe maintenance, cabin refurbishment, aircraft painting and line maintenance,” Daver said.
Regarding funding for the MRO, Daver said resources would be raised internally and the company could dilute about 5 to 10 per cent of its stake to part finance proposed facility.He also ruled out floating an initial public offer for the company.
According to Daver, Livewel is in talks with several world renowned MRO’s for technical assistance.
“We will not partner with any of the MROs that we are in talks with but will seek their help and assistance,” Daver said.
Livewel plans to hire about 500 professionals for the facility. It has been in aircraft maintenance business since 1972 with most of the major global airlines being its clients.