Aerospace industry to bag over $300m investments over next five years

GE Aviation, Airbus, and PPG are expected to build and expand on Seletar Aerospace Park.

Global aerospace companies will be investing more than $300m in Singapore's aerospace industry over the next five years, JTC said.

According to a press release, JTC signed a series of agreements to support new investments from GE Aviation, PPG, Airbus and Hawker Pacific Asia, as well as a joint venture between GE Aviation and SIA Engineering Company (SIAEC).

Singapore Business Review previously reported that SIAEC and GE Aviation's new joint venture will focus on engine overhauls. GE will hold a 51% equity stake in the joint venture, whilst SIAEC will hold the remaining 49%.

JTC is providing options that will complement the joint venture’s facility requirements.

Moreover, JTC announced new entrants and expansion plans in the Seletar Aerospace Park.

GE Aviation will be setting up an engine component manufacturing facility, PPG will be establishing its first facility, whilst Airbus and Hawker Pacific will build an Airbus Campus.

Hawker Pacific Asia also confirmed its interest to buy an additional 1.6 ha of land in the park.