Aircraft services firm Haveus Aerotech scouts for partner to raise $10mn

By Press Trust of India|13th Jan 2016
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Aircraft services firm Haveus Aerotech in Mumbai said it is looking for a partner that can bring in an investment of USD 10 million which will be mainly used to acquire an international MRO facility.

Image: Shutterstock
Image: Shutterstock

"The seed capital of USD 10 million will be invested in acquiring a running international engine MRO (maintenance, repair and operations) facility as well as to meet the operational cost in order to execute the orders worth USD 54 million to overhaul engines," Haveus Aerotech Managing Director Anshul Bhargava said in a statement.

Recently, the Delhi-based company had signed a Memorandum of Understanding with Air India's subsidiary AIESL (Air India Engineering Services Limited) to set up an advanced engine MRO facility at Dubai's Al Maktoum International Airport.

"The acquisition of international MRO facility will also complement and contribute to the green field MRO facility being built by Haveus Aerotech in Dubai and vice-versa," the statement added.

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