KUALA LUMPUR: MMC Corporation Bhd's member, Senai Airport Terminal Services Sdn Bhd (SAT) and Aero Vision Asia Sdn Bhd (AVA) today signed a sub-lease agreement for the setting up of an integrated maintenance, repair and overhaul (MRO) facility in Senai Airport Aviation Park (SAA Park).
The signing marks another milestone in Malaysia's long term vision to becoming a regional MRO hub.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed, who was present at the signing ceremony, said the agreement marked another step towards fulfilling Malaysia's vision of capturing five per cent of the global MRO market share.
"As of now, the global market share of MRO total at some RM400 billion and we are aiming to capture five per cent of that by 2030," he said.
"We are already the second biggest hub for MRO in this region and we are confident that as more and more deals in this nature is signed, we will be able to achieve our vision of becoming both a regional hub as well as capturing the five per cent market share."
Under the deal, AVA will develop an integrated MRO facility on 3.32 acres of land within the SAA Park.
An initial cost of RM25 million will be allocated to a hangar facility catering to narrow body aircrafts, propeller repair, maintenance and overhaul, non-destructive testing of aircrafts and aircraft painting and finishing works.
The hangar is expected to be completed within the third quarter of 2018.