Mubadala Development Co., Abu Dhabi’s state-owned company whose investments include private equity firm Carlyle Group and Ferrari SpA, signed an agreement with Boeing Co. for long-term aerospace development.
The accord includes plans for engineering, research and development, as well as military maintenance and training for pilots, the companies said today in an e-mailed statement.
“Building Abu Dhabi’s aerospace industry directly supports our mandate to create a high-tech, knowledge intensive economy, and provide career opportunities for the current and future United Arab Emirates workforce,” Homaid Al Shemmari, associate director of Mubadala Aerospace, said in the statement.
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