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Abu Dhabi Aircraft Technologies and Sikorsky to create JV to Develop Military Maintenance, Repair and Overhaul Center in UAE

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According to the press release, “Abu Dhabi Aircraft Technologies (ADAT) and Sikorsky Aerospace Services today announced the launch of a joint venture to provide world class military aviation Maintenance, Repair and Overhaul (MRO) services to the United Arab Emirates (UAE) Armed Forces and other military operators internationally, including in the wider Middle East and North Africa region.

ADAT is wholly owned by Mubadala Development Company, the strategic investment arm of the Abu Dhabi Government, in the United Arab Emirates. Sikorsky Aerospace Services is the aftermarket business of Sikorsky Aircraft Corp., a subsidiary of United Technologies Corp. (NYSE: UTX).

The joint venture, known as AMMROC (Advanced Military Maintenance, Repair and Overhaul Center), brings together ADAT’s military track record of high quality and reliable maintenance services, and Sikorsky Aerospace Services’ Original Equipment Manufacturer (OEM) expertise.

With the combined strength of the joint venture parties and an aggregate investment that exceeds US$800 million, AMMROC will draw on decades of experience and expertise in aerospace engineering, material support, logistics, maintenance, component repair, overhaul and training to deliver a fully integrated MRO support program by a single provider. This will enable AMMROC to provide innovative platform solutions for all fixed and rotary wing aircraft, to ensure guaranteed aircraft readiness, deployability, improved safety and self reliance.

Read more: Press Release

Follow the Money – Episode 45

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This longer-than-normal episode covers a wide range of issues including such as sovereign wealth funds, bitcoin, cryptocurrencies, Indian real estate, ESG, investment exclusions, central banking and more.

EPISODE 45

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The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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CalPERS Board Elects Priya Mathur as Board President

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The board of the California Public Employees’ Retirement System (CalPERS) elected Priya Mathur as board president. The current president Rob Feckner was named vice president of the board. Feckner previously served as board president and vice president.

Priya Mathur is serving her fourth term on the CalPERS Board of Administration. Mathur is a principal financial analyst for Bay Area Rapid Transit District (BART). Mathur represents public employees on the CalPERS Board, which she joined in 2002. She currently serves on four committees: Governance, Investment, Pension & Health Benefits, and Risk & Audit. She chairs the Pension & Health Benefits Committee and is vice chair of the Governance Committee.

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Oman SGRF Contemplates $1 Billion Infrastructure Fund

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Oman’s State General Reserve Fund (SGRF) is in discussions on forming a US$ 1 billion infrastructure fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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