FINANCIAL NEWS

USD136.12b in aviation by 2020: UAE minister

30 Apr 2011

(MENAFN) Minister of Economy in UAE, Sultan al Mansouri, said that $136.12 billion would be invested in the aviation industry over the coming ten years in attempts of making the country a global transport hub, reported The National.

Al Mansouri added that UAE plans for Abu Dhabi to become a regional center for aircraft maintenance, manufacturing and flight training. This comes as air traffic raised by 11.5 percent in the first six months of 2010 compared with the same period last year. The minister added that in the coming decade, investments would focus on aviation infrastructure improving connectivity and cementing UAE’s reputation in global aviation.

The minister said that billions of dollars were spent on new terminals and infrastructure in Abu Dhabi to secure future growth and expansion.

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