Rural and Regional Development Minister Datuk Seri Mohd Shafie Apdal said Edubizpark is an educational and business park conceptualised by MARA to provide a platform for seamless interaction between academic institutions and industry players, part of MARA's strategy to prepare industry-ready human capital.

The AAC is designed as a smart city comprising a range of integrated facilities such as offices, cutting-edge research and development facilities, academic campuses, a convention centre and residential space.

"This project could take up opportunities in the international aerospace industry as Airbus has launched its 'Power 8' programme to strengthen the supply chain all over the world," he said at the launch of Menara MARA in Kuala Lumpur in conjunction with MARA's 48th anniversary Monday night.

It is estimated that up to 40 per cent of passenger aircraft sales will be in Asia by 2020, Mohd Shafie said, adding that European Aerospace Defence and Space (EADS) plans to invest up to US$250 million (RM800 million) in Malaysia by 2020.

He said this industry will generate 10,000 engineering positions worth RM1.5 billion for engineering services, excluding maintenance, repairs and overhaul and others.

Earlier, Prime Minister Datuk Seri Mohd Najib Tun Abdul Razak and Mohd Shafie witnessed the signing of an agreement between Pelaburan MARA Bhd and Atkins Global (Atkins) for the development of the AAC in Subang Jaya.

United Kingdom-based Atkins Global is one of the world's leading design, engineering and project management consultants, and as lead consultant and master planner will assist in undertaking the design and planning in relation to the strategic development of the aerospace centre.

Pelaburan MARA will take a lead role as the master developer for the AAC, which is to be a key aerospace centre and envisioned to be a premier edubizpark for engineering services relating to the aerospace industry.

The AAC will be built around several key design principles incorporating the latest thinking in urban planning and green technology.

Pelaburan MARA Group Chief Executive Officer, Nazim Rahman said this partnership will be a major milestone towards making Malaysia a leading aerospace hub in the region.

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MARA To Establish Asia Aerospace City In Subang