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FINANCIAL NEWS
Jordan’s Joramco to spend USD10m on expansion
05 Feb 2016
(MENAFN) In response to expanding demand and an arising Iranian aviation market, Joramco, a Jordan-based aircraft heavy maintenance company, is planning to invest nearly USD10 million to expand its facilities and skills.
Basically, the ambitious expansion will consist of building a new wide-body aircraft capable hangar, purchasing new tools and parts, and increasing its workforce at a cost of probably not less than the cited USD10 million,
In more detail, Joramco is capable of servicing Boeing 727s, 737s and 787s and all types of Airbus aircraft except the A380 and A350, however is reviewing the possibility to soon introduce capabilities for the latter.
Joramco, who is profitable with an annual turnover of around USD70 million, is anticipating an influx of business from Iranian carriers in the coming years after financial and economic sanctions against the Islamic Republic.
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