Haveus Aerotech India scouting for investment partner

City-based aircraft services firm Haveus Aerotech India today said it is scouting for an investment partner for accruing an MRO facility and in executing the confirm aircraft engine overhaul orders worth USD 54 million.
The company is looking for funds to the tune of USD 10 million for this purpose, a release said.
"The seed capital of USD 10 million will be invested in acquiring a running international engine MRO facility as well as to meet the operational cost in order to execute the orders worth USD 54 million to overhaul engines," Haveus Aerotech's managing director Anshul Bhargava said.
The acquisition will also complement and contribute to the green field maintenance, repair and overhaul (MRO) facility in Dubai, it said.

Haveus Aerotech's has already announced its plans to set up MRO facility in Dubai, the first ever by any Indian company.
The company also announced signing of an exclusive partnership with Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation for the Dubai facility which will be built at an investment of over USD 100 million.