Construction of Aircraft Manufacturing Factory to Start in Spring

The Partnership Fund, a State-owned investment fund, met with representatives of the Israel-based international defense electronics company, Elbit Systems – Cyclone Ltd., to discuss an aircraft manufacturing factory project, the construction of which is planned to start at the end of spring in Tbilisi, Georgia.

The two parties spoke about the implementation process of the factory project; in particular, the ordering of high-tech equipment and construction-related issues, as well as the possibility of involving international financial institutions in the project.

According to the Partnership Fund, at this stage, the final construction permits are being worked on and infrastructure issues are being specified, including those with utilities and service provider companies and Tbilisi City Hall.

Final procedures are underway regarding selection of equipment manufacturing companies for the factory and the signing of contracts. JSC Aerostructure Technologies Cyclone (ATC), established for management of the project by the Partnership Fund, and Elbit Systems – Cyclone Ltd., have started selecting specialists, a number of whom will be trained in Israel.

The factory will employ 300 specialists, 60 of which will be trained and employed prior to launching the factory.

Elbit Systems – Cyclone Ltd., a subsidiary company of Elbit Systems, produces composite aircraft materials in the city of Haifa, Israel. The company chose Georgia from a number of alternatives to create a reserve capacity.

An estimated USD 85 million has been invested by the Israeli company in partnership with the Partnership Fund. The factory will produce civilian aircraft components with renowned companies, such as aircraft manufacturers Bombardier, Boeing and Airbus – the world’s most profitable companies in the aerospace industry – expected to be among its customers.

Ana Akhalaia

11 April 2016 17:09