Partnership Fund Launches Construction of Aircraft Materials

The Partnership Fund, together with Israeli company Elbit Cyclone, launched construction of a factory which will produce aircraft materials. This high-tech manufacturing factory will be located close to the Tbilisi International Airport.

“We support the development of high-tech manufacturing. This high-tech plant will be the first of its kind in the history of independent Georgia. I believe that other such large-scale brands will also be interested to expand their businesses in the country,” said Irakli Kovzanadze, CEO of the Partnership Fund, at the ground breaking presentation ceremony.

The factory will produce aircraft doors, aerodynamic surfaces and other aircraft components made from composite materials. The main consumers of these products are: Boeing, Bombardier, Airbus, Sukhoi, and others.

The $85 million project will employ around 300 locals who will be trained by leading specialists from Israel. 100 % of the production manufactured by the plant will be exported.

Royal Development will construct the factory, while the operating company will be JSC Aerostructure Technologies Cylone (ATC) which is a sister company set up jointly by the Partnership Fund and Elbit Cyclone.

10 September 2015 21:07