The Turbine Services & Solutions Group (TS&S), a wholly owned subsidiary of Abu Dhabi's Mubadala Investment Company, expects to unveil details of the facilities it will build for GE and Rolls-Royce engines, “before the end of the year”, as it ramps up its aerospace business in the UAE, the firm’s newly appointed deputy chief executive said.
Mansoor Janahi, previously the vice-president of finance, real estate and infrastructure at Mubadala, was appointed as deputy chief executive of TS&S on Wednesday.
"We are expanding on agreements we signed with Rolls-Royce and GE in 2013 to help build their capabilities in the region. The detailed plans will most likely be announced before the end of the year, hopefully very soon," Mr Janahi told The National shortly after his appointment.
The plans are to build either one or more service facilities for the two aviation and industrial engine manufacturers, although Mr Janahi did not talk about the specifics.
Mubadala signed deals with GE Aviation and Rolls-Royce at the 2013 Dubai Airshow to establish GEnx and XWB engine maintenance, repair and overhaul (MRO) centres in Al Ain. There was also a combined commitment of US$1 billion from the two engine-makers for parts production.
GE Aviation’s GEnx engine is used on Boeing 787 Dreamliner aircraft, while the Rolls-Royce Trent XWB engine is used on Airbus A350s.
The UAE is expanding its aviation manufacturing and MRO sectors, where it anticipates strong demand from customers on the back of the country’s fast-growing aviation industry. The country aims to become an “established global aerospace hub”.
This week, Mubadala said it would invest Dh82.5 million in research and development for its aerospace, renewables and ICT sectors over the next five years.
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TS&S, meanwhile, announced the successful delivery of the first full-life overhaul on a Siemens Industrial Trent gas turbine at its existing facility.
Also this week, Mubadala’s Aerospace division announced partnerships with Honeywell and IBM to collaborate on the MRO of aerospace products across the Middle East.
Mr Janahi told The National he aimed to "build on the strong platform for growth the company already has" in his first few months in the job. He also said TS&S would continue to support Etihad Airway's servicing needs.
“The company is poised well for further growth, in providing local support to global aerospace companies working in the region,” he said.
Khaled Abdulla Al Qubaisi, the chief executive of Mubadala’s Aerospace, Renewables and ICT business, said of Mr Janahi's appointment: “Mansoor brings a wealth of experience to his new role at TS&S, a premier MRO and services business that is a crucial part of Abu Dhabi’s industrial ecosystem."
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The stats
Ship name: MSC Bellissima
Ship class: Meraviglia Class
Delivery date: February 27, 2019
Gross tonnage: 171,598 GT
Passenger capacity: 5,686
Crew members: 1,536
Number of cabins: 2,217
Length: 315.3 metres
Maximum speed: 22.7 knots (42kph)
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
DUBAI%20BLING%3A%20EPISODE%201
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
SPEC%20SHEET%3A%20APPLE%20IPHONE%2014%20PRO%20MAX
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NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5