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Published on : Monday, June 15, 2015
MARA Aerospace and Technologies Sdn Bhd (M-AeroTech) Chief Operating Officer Said Zulfikri Osman said RM858 million would be utilised for the development of the first phase of AAC.
“It will also create investment worth RM1.47 billion.. of which, half of the investment will come from the private sector (industry players) and half from public funds, in which AAC will help to raise,” he told Bernama.
The AAC, located in Subang Nexus, is expected to contribute RM1.1 billion to the Gross National Income.
M-AeroTech is a wholly-owned subsidiary of Majlis Amanah Rakyat (MARA) that oversees the revenue generation via its six strategic business units.
The development will be executed in three phases and by the end of its third phase, AAC will house office space, training centres, a convention centre, a business hotel and retails spaces.
AAC, the aerospace business hub that offers a complete business ecosystem for industry players in South East Asia, is currently developing its world-class infrastructure sprawled over 3.5 million square feet of space.
The infrastructure is also home to the second campus of University Kuala Lumpur’s Malaysian Institute of Aviation Technology.
This will provide business access to a skilled talent pool which will inspire collaboration between various establishments within a rich environment.
Among those who have agreed to house their operations in this aerospace hub include ATKINS, an architectural firm which was awarded the contract to serve as the master designer for the development, SKYVAX Sdn Bhd, which provides aviation-related services, and Strand Aerospace Malaysia Sdn Bhd (SAM), which provides top quality engineering services.