FEC approves establishment of aircraft maintenance center – ICRC
The Federal Executive Council (FEC) has approved the creation of a maintenance, repair and overhaul (MRO) center which is expected to generate $185 million.
This was contained in a statement released Wednesday by Manji Yarling, Acting Head, Media and Publicity, Infrastructure Concession Regulatory Commission (ICRC) in Abuja.
Ms Yarling said the approval was given following the issuance of a Full Business Case (FBC) Compliance Certificate by the ICRC to the Federal Ministry of Aviation.
>She said the MRO center which would be the first in West and Central Africa would be a one stop shop for aircraft overhaul, routine maintenance and servicing.
"The center is established as a public-private partnership (PPP) with Messrs. AJW Consortium as the concessionaire and uses the PPP Build Operate and Transfer (BOT) model.
“The center is approved for a 30-year concession period and is expected to generate approximately $185 million over that period,” she said.
She said MRO is among the key elements of the aviation sector roadmap of the current administration of President Muhammadu Buhari.
Ms Yarling said the aviation roadmap was the result of a careful assessment of the challenges, risks and opportunities of the air transport sector in Nigeria after proper consultation with key parties stakeholders.
"It aims to address the challenges of the sector, fill the identified gaps and create the necessary environment for the active participation of the private sector in the development of the country's aviation sector."
She said the creation of a private sector-led MRO center was key to diversifying and repositioning the aviation industry, as it would provide a platform for the repair, overhaul and maintenance of planes.
Ms Yarling said the MRO center would meet the demand for aircraft maintenance in Nigeria, West and Central Africa.
"Currently, regions do not have an international standard MRO and therefore urgently need one to facilitate business, facilitate growth and contribute to their Gross Domestic Product (GDP).
(NAN)
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The Federal Executive Council (FEC) has approved the creation of a maintenance, repair and overhaul (MRO) center which is expected to generate $185 million.
This was contained in a statement released Wednesday by Manji Yarling, Acting Head, Media and Publicity, Infrastructure Concession Regulatory Commission (ICRC) in Abuja.
Ms Yarling said the approval was given following the issuance of a Full Business Case (FBC) Compliance Certificate by the ICRC to the Federal Ministry of Aviation.
>She said the MRO center which would be the first in West and Central Africa would be a one stop shop for aircraft overhaul, routine maintenance and servicing.
"The center is established as a public-private partnership (PPP) with Messrs. AJW Consortium as the concessionaire and uses the PPP Build Operate and Transfer (BOT) model.
“The center is approved for a 30-year concession period and is expected to generate approximately $185 million over that period,” she said.
She said MRO is among the key elements of the aviation sector roadmap of the current administration of President Muhammadu Buhari.
Ms Yarling said the aviation roadmap was the result of a careful assessment of the challenges, risks and opportunities of the air transport sector in Nigeria after proper consultation with key parties stakeholders.
"It aims to address the challenges of the sector, fill the identified gaps and create the necessary environment for the active participation of the private sector in the development of the country's aviation sector."
She said the creation of a private sector-led MRO center was key to diversifying and repositioning the aviation industry, as it would provide a platform for the repair, overhaul and maintenance of planes.
Ms Yarling said the MRO center would meet the demand for aircraft maintenance in Nigeria, West and Central Africa.
"Currently, regions do not have an international standard MRO and therefore urgently need one to facilitate business, facilitate growth and contribute to their Gross Domestic Product (GDP).
(NAN)
Support the integrity and credibility journalism of PREMIUM TIMES Good journalism costs a lot of money. Yet only good journalism can guarantee the possibility of a good society, an accountable democracy and a transparent government. For free and continued access to the best investigative journalism in the country, we ask that you consider providing modest support to this noble endeavour. By contributing to PREMIUM TIMES, you help sustain relevant journalism and keep it free and accessible to everyone.Donate
[embedded content]TEXT ANNOUNCEMENT: Call Willie - +2348098788999
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