Investors and Eastern Arab for Industrial and Real Estate Investment Co. P.L.C (IEAI) has signed an agreement with Jordan Aerospace Industry (JAI) which will be the first major organization to move their premises to the new Al Mushatta Industrial Park. Signing on behalf of Al Mushatta was the chairman. of IEAI Mr. Zuhair Khoury while C.E.O. Mr. Muayad Al-Samaraiee signed on behalf of Jordan Aerospace Industries.
The aim of the agreement is to create a centre of excellence for high tech companies including Jordan's own aviation companies to the benefit of the overall economy. Al Mushatta will become an “aviation city” with more agreements expected with several aircraft manufacturers to establish repair and maintenance centers and flight schools.
CEO of IEAI Mr. Mohammad Al Turk said "We are very pleased to welcome the enthusiastic support of Jordan Aerospace. They are a positive and important addition to the Industrial Park which we know will develop in to an important center of aviation for the ME and will attract greater interest as it nears completion." He added "There has been great Jordanian interest in Al Mushatta but also strong foreign interest in the form of our Canadian Partners Trycana Development Plc whose role is to encourage Canadian firms to invest in Jordan."
For Jordan Aerospace Industries Mr. Muayad Al-Samaraiee said "We are bringing JAL to Al Mushatta with an eye very firmly on the future development of a strong and thriving aerospace industry in Jordan" and added "We will build new manufacturing facilities, R&D and warehouses to support our growing business needs".
Al Mushata boarders the Queen Alia Airport at, approximately 35km south of Amman. It is being constructed over 4,200,000 sq. meters and includes a residential complex with stores, banks and parks to complement the light industrial and comprehensive business facilities. Construction began in March 2005 and Phase 1, encompassing 1,300,000 sq. meters will be complete by August 2006. JAI will occupy an area of approximately 110,000 sq. meters with an additional 33,000 sq. meters available for future expansion. Construction will begin within three months of the Signing Agreement and be completed within six months.
Al Mushatta Industrial Estate is owned by the Investors and Eastern Arab for Industrial and Real Estate Investment Co. P.L.C; a Group of investors including Union Bank for Savings and Investment, Arab Bank, Jordan Investment and Finance Bank, Housing Bank for Trade and Finance, The Technical Construction Company alongside private investors. The Al Mushatta Industrial Business Park has Qualifying Industrial Zone status bordering the Princess Alia Airport in Al-Qunitra about 35km south of Amman. It features world class facilities including conference rooms and modern communications as well as a modern and self reliant infrastructure including a Power Plant, a storm Water Network and a Water Treatment Plant. It will become a home for high-tech Jordanian and international businesses and already has the support of the Canadian Treycana Development Inc. and Jordanian Aerospace Industry.
Jordan Aerospace Industry (JAI) is a pioneering company which, since 2001, has set out to bring new manufacturing ideas to life in Arabic markets. By targeting young but strong aviation markets JAI has created coalitions and partnerships in the Kingdom of Saudi Arabia and in particular Iraq where JAI has begun preparations for a multi-purpose manufacturing facility for light aircraft in Northern Iraq (Al-Sulimania - Kurdistan). This agreement will allow JAI to manage the first ever aircraft manufacturing facility Iraq. JAI has expanded in Jordan to meet its ever-increasing local, regional and international demands.
© 2006 Al Bawaba (www.albawaba.com)
