SIA Engineering signs maintenance JV for Phnom Penh’s new airport
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SIA Engineering will hold a 51 per cent stake in the joint venture, while Cambodia Airport Investment will hold 49 per cent.
PHOTO: ST FILE
Derryn Wong
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SINGAPORE – SIA Engineering Company announced on Tuesday that it will form a joint venture (JV) with Cambodia Airport Investment Company for aircraft line maintenance services at a new airport in Phnom Penh, Cambodia.
SIA Engineering will hold a 51 per cent stake in the joint venture, while the Cambodian company will hold 49 per cent.
The joint venture is expected to commence operations in 2025 and will provide line maintenance services at Phnom Penh’s Techo Takhmao International Airport (TIA), which is currently under construction.
The airport will be completed in 2025 and is designed to handle up to 50 million passengers a year. It will supersede the existing Phnom Penh International Airport as the capital’s main airport.
SIA Engineering chief executive Ng Chin Hwee said: “This joint venture will provide comprehensive line maintenance support with a high level of dispatch reliability and quality engineering services to the airlines operating in TIA. It will strengthen (the firm’s) position as a leading line maintenance provider while offering high-quality and efficient maintenance services to valued customers at more overseas locations.”
SIA Engineering is a major provider of aircraft maintenance, repair and overhaul services. It currently has 22 joint ventures and subsidiaries in seven countries.
At a media briefing for the firm’s launch of its new “Continuous Improvement Journey” transformation, Mr Ng said the aviation industry is now on its way to a full recovery, and that SIA Engineering’s “joint ventures are also experiencing (a recovery), with an increase in all activities”.
Shares of the company closed at $2.40, down 0.83 per cent, on Tuesday. THE BUSINESS TIMES
