Nagpur, June 9 (IANS) The Maharashtra Airport Development Company Ltd (MADC) will lease 50 acres land in the special economic zone (SEZ) near Nagpur airport to Air India (AI) to establish an aircraft maintenance base that will be set up by Boeing Company with an investment of around $100 million, an official said.
The aircraft maintenance base will be set up over the next three years.
Besides, a small portion would be invested by AI towards the aircraft maintenance base, the official said.
Boeing will facilitate the construction and equipping of the base using state-of-the-art technology.
These would be used for major maintenance of Boeing 777 and 767 by AI, as well as other airlines, offering immense potential for generating revenues from this source, he added.
The agreement was signed by MADC vice chairman and managing director R.C. Sinha and AI’s director K.M. Unni, in the presence of Boeing’s Suvendoo Ray.
‘This project is an important move in realizing the potential of MRO business in India and meeting the future requirements,’ Unni said.
The project is part of a commitment made by Boeing for setting up such an advanced aircraft maintenance in Nagpur, which is in the heart of the country, according to the official.