VPorts, the Canada based designer, constructor and operator of Advanced Air Mobility (AAM) infrastructure, has announced a partnership with the UAE General Civil Aviation Authority (GCAA) and the Mohammed bin Rashid Aerospace Hub (MBRAH) at Dubai South to establish an AAM integrator centre in Dubai.
The company says it has signed a 25-year exclusive lease agreement with MBRAH, renewable for a further 25 years, to establish the AAM centre on a 37,000-square-metre site within Dubai South. The press release reports “The project, which represents an initial investment of $40 million over three years, is expected to generate US$7 billion in direct revenues in Dubai and Abu Dhabi Combined, over the next 25 years and create 1,500 high-quality direct jobs. Development and construction of the AAM integrator world centre will start in 2023; it is expected to begin operations and conduct its first flight test in 2024.”
As part of the agreement, VPorts says it will partner with private investors to deliver advanced infrastructure, development, and operations. Multiple revenue streams and opportunities the company says will be pursued and leveraged across all phases of development, from project conceptualisation through design, development, and long-term implementation.
USA-based NEXA Capital Partners of Washington, DC, will lead the initial investment round, assembling a consortium of investors already active in the AAM sector according to the press release.
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(Image: VPorts)
