KUALA LUMPUR, June 24 (Xinhua) -- GE Engine Services Malaysia plans to invest 3 million U.S. dollars in Malaysia over the next three years that will generate 50 million U.S. dollars in revenue, local media reported on Tuesday.

    GE Engine Services is a joint venture between Malaysia Airlines and U.S.-based multinational General Electric Co (GE) which aimed at propelling Subang airport as a global hub to maintain, repair and overhaul CFM56-5B jet engines manufactured by GE.

    Since 1995, GE Engine has repaired, maintained and overhauled aircraft engines for more than 35 airlines throughout Asia.

    Despite rising fuel prices, the future of aircraft engine maintenance is secure with Boeing and Airbus having sold all of their aircraft, GE vice-chairman John G. Rice said at GE's headquarters in Subang, central Selangor state on Monday.

    "There are concerns over high fuel prices, but there will be growth in the region across the board in all sectors," the New Straits Times quoted Rice as saying.

    Rice had earlier launched GE Engine's enlarged aircraft engine overhaul and service maintenance shop at its Subang plant at a cost of 5 million U.S. dollars.

    The new investment will offset the projected drop in older product lines and will keep GE Engine at the leading edged of aircraft maintenance, repair and overhaul technology, Rice said.

    Meanwhile, Rice said the world, especially nations with growing or emerging economies, are expected to spend up to 15 trillion U.S. dollars by 2015 on infrastructure spanning aviation, energy, water, transportation and healthcare.

    "We expect growth of 20 percent across the board and GE is well poised to support the growth of countries," said Rice.

    GE serves more than 100 countries and employs more than 300,000 workers and has businesses in infrastructure, healthcare, commercial finance, industrial, aviation, energy, oil and gas, transport and water.