Abu Dhabi state investment group Mubadala and US-based United Technologies plan to set up a $800 million military aircraft maintenance and repair joint venture in Al Ain.

The Advanced Military Maintenance, Repair and Overhaul Centre (AMMROC), announced on Monday by Mubadala, will be set up through its unit Abu Dhabi Aircraft Technologies (ADAT) and Sikorsky Aerospace Services, part of Sikorsky Aircraft Corporation, a unit of United Technologies Corporation.

Reuters reported last week that Mubadala and Sikorsky were close to announcing the venture.

Initially, AMMROC will share existing ADAT facilities and support staff until completion of its new complex at the Al Ain International Airport, near Abu Dhabi and will maintain a non-site presence at the UAE Armed Forces' bases, a statement from Mubadala said.

The new facility is aimed at serving the UAE and other countries, it stated. Some 1000 new jobs are expected to be created in the UAE in the first five years of operation, it added.-Reuters