Tawazun Economic Council (Tawazun) announced at Dubai Airshow it had signed a Letter of Intent (LoI) to purchase 100 VRT500 helicopters from Singapore-based Aeroter at a total value of Euros 216.9 million (Approx. AED913 million), for use across some government entities.
The delivery of the 100 helicopters is expected by the end of 2023.
Ahmed Ali Al Harmoodi, Chief Acquisition Management Officer of Tawazun, said the LoI comes as part of Tawazun’s new mandate of managing the UAE’s strategic procurement and acquisition process.
He revealed that the LoI also entails setting up of a helicopter service center in Abu Dhabi, in collaboration with an Emirati Company. “Supported by the SDF, Aeroter is currently engaged in talks with a number of national companies on forming a strategic partnership to operate and manage the center,” he added.
Al Harmoodi further stated that the strategic deal will result in the transfer of capabilities and operations to the UAE, in alignment with Tawazun’s commitment to enable the industry for future growth and to support the country’s strategic investments.
Abdulla Nasser Al Jaabri, Deputy Chairman of Aeroter, said: “We are pleased to close this contract for VRT’s single light engine helicopter, which is characterized by various design advantages in terms of safety, performance and cost-effectiveness, to meet the customers’ expectations.”
Alexander Okhonko, Chief Executive Officer of Aeroter, said: “We are very pleased with this strategic partnership and we look forward to entering the UAE market, which we see as our launching pad to new markets in the Middle East & North Africa and other markets of the world.”
“VRT helicopters have a unique set of capabilities and designs for use in urban environments, medical and VIP transport, passenger support, crop spraying, aerial construction, seismic support, firefighting and other oil and gas operational activities,” he added.
Aeroter is a leading player in helicopter industry, with capability to design and manufacture modern helicopters, including VRT 500, a light single-engine, seven-seat helicopter, perfectly suited for emergency and security transport.
Strategic Development Fund, the investment arm of Tawazun Holding, is focused on financial return and economic impact within UAE’s strategic sectors, through equity investment in local and international partnerships and developmental funding towards UAE’s private sector.