Mubadala enlists giants to foster UAE aerospace
Abu Dhabi government investment vehicle Mubadala Development Co.

Abu Dhabi government investment vehicle Mubadala Development Co. (Stand W300) has enlisted the aid of some of aerospace’s biggest names in pursuit of the United Arab Emirates’ aim to become a producer and investor in the industry as well as a major customer. The company says its entry into aerospace will be “organized in carefully planned stages and is likely to involve significant investment in the first few years.”

The objective is to decrease the UAE’s reliance on oil and energy and develop a more sustainable and broadly based economy. To that end, the Mubadala signed memoranda of understanding on cooperative development with both Boeing and Lockheed Martin at the Paris Air Show in June. Two years ago it inked a similar agreement with Rolls-Royce.

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