Mubadala Investment’s unit inks AED 27bn contracts until 2030

Mubadala Investment’s unit inks AED 27bn contracts until 2030
Strata’s total facility space reached 31,500 square metres

Abu Dhabi – Mubasher: Strata Manufacturing, which is fully-owned by Mubadala Investment Company, on Thursday announced the signing of AED 27.5 billion contracts until 2030 with airplane manufacturers such as Boeing and Airbus.

The company “had delivered more than 34,000 pieces of its products to the largest airplane manufacturers in the world since its establishment,” said Strata Manufacturing’s CEO Ismail Abdulla, according to the Emirates News Agency (WAM).

“More than 2,000 airplanes around the world were using parts made in the UAE, which showed Strata’s, as well as other national companies’, contribution in achieving Abu Dhabi Economic Vision 2030,” WAM reported, citing the top official as saying.

UAE companies account for 56% of Strata’s total suppliers, 88% of which are small and medium enterprises (SMEs), “which contributed in supporting Emirati entrepreneurs and capacities in the aviation industry,” Abdulla continued.

Strata’s total facility space reached 31,500 square metres, while production lines grew to 10 lines by the end of 2016 after the signing of supply contracts with big global aircraft manufacturers, the CEO revealed.

Abdulla noted that Strata is set to implement many research and development projects, in partnership with the company’s international partners and UAE’s universities as the Masdar Institute of Science and Technology, Abdulla concluded.

UAE nationals make up 51% of the company’s labour force, which is the result of its plan to promote Emiratisation, Abdulla concluded.  

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Source: Mubasher

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