As per the joint venture agreement signed by Air Works and Air Livery, the new company will be India's first dedicated paint facility for commercial, VIP, executive and military for narrow and wide body aircraft up to and including the B777-300, said a press release.
Air Works will invest $50 million for setting up the paint shop, interior completions and engine MRO facilities over the next three years.
"This joint venture between Air Works and Air Livery Plc is an integral part of our strategy and represents another step in our commitment to build a strong aviation infrastructure in India," said Fredrik Groth, Chief Executive Officer of Air Works.
As part of the joint venture, Air Works and Air Livery will provide dedicated aircraft painting services at its MRO facilities at Hosur Airport with a view to serve the entire Asia Pacific region.
This venture will offer paint maintenance service to commercial airlines, VIP and business jet operators at their own facilities or a complete repaint service at Hosur.
The region's first dedicated painting facility will be equipped with state of the art paint application equipment in temperature and humidity control environment, full extraction system as well as aircraft control surfaces balancing equipment, added the release.
