'Seletar Park Plays Key Role In Supporting Singapore's Aerospace Industry

SINGAPORE, Nov 23 (Bernama) -- The Seletar Aerospace Park (SAP) plays a key role in supporting Singapore's aerospace industry, Second Minister for Trade and Industry S. Iswaran said Wednesday. He said it would host a wide range of aerospace-related activities, including maintenance, repair and overhaul (MRO), manufacturing, business and general aviation activities, training, and R&D. "The creation of this integrated aerospace community allows companies to enjoy greater efficiencies in their operations and increases the scope for new industry collaborations. "When fully developed, the 300ha park is expected to contribute more than S$3 billion to our economy, and employ 10,000 workers," he said in a speech at the opening of SAP Business Aviation Complex here. Among leading names in the aerospace industry that have decided to set up operations here in the SAP are Rolls-Royce, Eurocopter, Bell Helicopter, Cessna, ST Aerospace, Hawker Pacific and Fokker Services. Iswaran said the aerospace industry was an important part of the country's economy. Over the past two decades, it has grown by an average of about 12 per cent per annum to achieve a record output of S$7.2 billion in 2010. "Today, we hold a strong leadership position in MRO activities, accounting for about a quarter of Asia-Pacific’s MRO market share," he said. -- BERNAMA