"The seed capital of USD 10 million will be invested in acquiring a running international engine MRO (maintenance, repair and operations) facility as well as to meet the operational cost in order to execute the orders worth USD 54 million to overhaul engines," Haveus Aerotech Managing Director Anshul Bhargava said in a statement.
Recently, the Delhi-based company had signed a Memorandum of Understanding with Air India's subsidiary AIESL (Air India Engineering Services Limited) to set up an advanced engine MRO facility at Dubai's Al Maktoum International Airport.