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Tawazun, Swiss group in Super Jet parts manufacturing deal


Tawazun, Swiss group in Super Jet parts manufacturing deal
ABU DHABI, 3 hours, 59 minutes
ago
Tawazun Economic Council has entered into an offset agreement with Swiss-based Pilatus Aircraft under which Strata, a company wholly-owned by Mubadala Investment Company, will add three further work packages for the PC-24, the world’s first ‘Super Versatile Jet.’
 
Spanning over seven-year period, the agreement will see Al Ain-based aero-structure manufacturer supply major aircraft components to Pilatus Aircraft.
 
Supported by Tawazun under its economic programme, Strata had previously entered into partnerships with global leading aircraft manufacturers including Boeing and Airbus. 
 
Its contract with Pilatus is now set to enhance its position as a major contributor to global value chains by offering “Made with Pride in UAE” products. ....

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Emirates News Agency - Tawazun approves major offset programme, Strata to supply aircraft components to Pilatus Aircraft Ltd


Tawazun approves major offset programme, Strata to supply aircraft components to Pilatus Aircraft Ltd
ABU DHABI, 4th April, 2021 (WAM) Tawazun Economic Council and Swiss-based Pilatus Aircraft Ltd have entered into an offset agreement under which, Strata Manufacturing (Strata), the advanced composite aero structures manufacturing company wholly-owned by Mubadala Investment Company PJSC, will add a further three composite work packages for the PC-24 aircraft models by the beginning of 2021.
The agreement was signed by Matar Ali Al Romaithi, Tawazun’s Chief Economic Development Officer, Ismail Ali Abdullah, CEO of Strata Manufacturing, and Johan van Nieuwenhuizen, Director of Industrial Participation of Pilatus. ....

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Saudi Arabia sees 'strong rebound' in foreign investor licenses


RIYADH: A total of 306 new international companies were granted investor licenses in Saudi Arabia in the third quarter of 2020, a 96 percent increase on the previous three-month period, the Kingdom’s investment ministry announced on Tuesday.
The ministry released the figures as part of its new Investment Highlights Fall 2020 report, which provides an overview of the development of the Kingdom’s investment environment.
Saudi Minister of Investment Khalid Al-Falih said the latest figures showed that the Kingdom was able to retain the long-term confidence of the global investor community, and was achieving “steady and positive” economic recovery.
“Resilience against a backdrop of global uncertainty is a clear sign that the Saudi opportunity has not changed. We look forward to continuing our support of foreign investors as they access and enjoy the benefits of the Kingdom’s emerging opportunities,” he said. ....

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