THE development of Seletar Aerospace Park is on track.

Roads and other infrastructure works for Phase I will be completed soon, and by year-end construction will begin for a new commercial complex.

A second factory-like facility, which will cater to companies that need space for heavier manufacturing and aircraft maintenance, repair and overhaul (MRO) work is also being planned.

Giving a progress update, JTC Corporation's chief executive officer Ow Foong Ow Foong Pheng said it is in talks with industry players on the development of a shared hangar facility.

Speaking at the ground-breaking for a new fuel depot at Seletar Wednesday morning, Mrs Ow said: 'Companies will be able to tap on this shared hangar as and when they need it. This will enable them to save on the need to invest in fixed infrastructure and enjoy operational cost savings in the long run.'

The target is to launch a site for this purpose early next year.

JTC's director for the aerospace cluster Tang Wai Yee later told reporters that the plan is for the private sector to come in and take up the project.

The facility will be useful for smaller companies now clustered around Seletar Airport.

She said: 'These companies are very small. Some of them have only a few planes and cannot afford to build their own hangars so it makes sense for somebody to come and build a hangar, and for them to be tenants of the hangar.'

The transformation of Seletar Airport and its surroundings into a 300ha aerospace hub by 2018 is being spearheaded by JTC Corp.

Works include lengthening the existing runway, expanding the airport and building a new air traffic control tower.

As part of the plans, ST-Airport Services will build a new fuel depot on a 1.07 ha site to serve the new park.

When completed by August, the $6 million facility, will have the capacity to store about 300,000 litres of jet fuel, more than double the previous capacity.

This can be expanded to 500,000 litres if necessary.