Abu Dhabi to build commercial aircraft

Abu Dhabi to build commercial aircraftMubadala Aerospace has announced that it has decided to manufacture commercial aircraft in Abu Dhabi within eight years.

Mubadala Development Company acts as catalyst for the economic diversification of Abu Dhabi.

Mubadala authorities stated in a communiqué that to manufacture the aircraft, the company has adopted a long-term strategy with its partners in the aircraft industry.

The sources said that Mubadala has invested in a number of world's prominent aerospace companies including Italian aerospace company Piaggio Aero Industries, in which it holds 31 per cent share.

The sources further added that this will increase the strategy of the emirate to embark on aircraft manufacturing enormously, bringing out its first fully manufactured aircraft between fiscal 2016 and 2018.

(via TopNews Arab Emirates. Contributed by Faarooq Mehmood )