Aviation firm to invest $40 million in Clark facility
() - April 7, 2011 - 12:00am

MANILA, Philippines - A leading business aviation firm in Asia is putting up a $40-million maintenance, repair and overhaul facility in Clark, sending a strong signal to the international community that the Philippines is ready to play a central role in the global aviation industry.

Executive Secretary Paquito N. Ochoa Jr. said Metrojet, which owns a fleet of 26 aircraft of various types and capacities, will set up the facility in a three-hectare property inside the Clark Airport Complex, citing a report by Transportation and Communications Secretary Jose De Jesus to President Aquino.

Metrojet, a part of Kadoorie Group which owns China Light and Power Co. and the Peninsula Hotel Chain, is scheduled to begin construction of the project in June and commence operations by the end of the year in Clark, a former US air base which is now home to commercial, industrial and hotel businesses.

It will offer a range of services such as aircraft charter, comprehensive aircraft management, maintenance, co-ownership programs, aircraft acquisition and sales. The aviation firm’s proposed heavy maintenance for Clark will also include avionics upgrade and exterior paint work for aircraft.

“The President has announced that the country is open for business, and the decision of Metrojet to set up a shop in Clark is proof that foreign investors are listening,” Ochoa said.

Total investment for the entire project of Metrojet is $40 million, with an initial investment of $4 million.

In his report to the President, De Jesus said Metrojet announced its plan to develop the aviation repair and maintenance facility in the strategically located Clark Airport Complex during the Asian Aerospace Conference in Hong Kong last March.

“Our government is focused on assuring investors that we are serious about undertaking reforms that will make it attractive for them to invest in the country. These include efforts to provide a level playing field for businessmen and guaranteeing them a government that is consistent with its policies and is faithful to the rule of law,” Ochoa explained.

“This is a welcome development that underscores the inroads we are making in the area of economic and infrastructure development, one of the four clusters this administration is focused on,” he added. The other three clusters are human development, good governance, and security, sovereignty and the rule of law.

ASIAN AEROSPACE CONFERENCE CHINA LIGHT AND POWER CO CLARK AIRPORT COMPLEX DE JESUS EXECUTIVE SECRETARY PAQUITO N HONG KONG KADOORIE GROUP METROJET OCHOA OCHOA JR. PENINSULA HOTEL CHAIN
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