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News In DetailSpaceport to be established in Abu Dhabi
Abu Dhabi : 18-Apr-2012
Abu Dhabi-backed Virgin Galactic is planning to establish a spaceport in the UAE capital, with the long-term aim of reducing the flight journey to USA to one hour. Abu Dhabi state-backed investment firm Aabar Investments acquired a 32% stake in the company in 2009. A location for Spaceport Abu Dhabi has not yet been selected and potential sites would be evaluated once the regulatory requirements are finalised. A senior executive has recently been appointed, who will be responsible for developing the roadmap for construction of this spaceport, starting from financial, strategic and organisational business planning, and if the requisite regulatory approvals are approved, moving through to spaceport construction management.
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