Air India’s joint venture AISATS and Yamuna International Airport Private Ltd, have signed a concession agreement to build a Multi-modal cargo hub at the upcoming Noida International Airport, the largest airport in the country and the second facility to be set up in the National Capital Region..
The Multi-modal cargo hub, located at Jewar, Greater Noida, will cover 87 acres and comprise an Integrated Cargo Terminal and an Integrated Warehousing & Logistics Zone, a statement from the company said
An agreement was signed between Sanjay Gupta, Chief Executive Officer of AISATS, and Christoph Schnellmann, Chief executive Officer of Yamuna International Airport Private Ltd.
As per the agreement, AISATS has been entrusted with the responsibility of designing, building, financing and operating the multi-modal cargo hub. AISATS is a 50:50 joint venture between Air India, and Singaporean SATS Ltd and was formed for undertaking ground and cargo handling operations.
“Air India sees tremendous growth opportunities in Uttar Pradesh and is keen to provide seamless cargo connectivity within the state to power this growth. The AISATS MMCH at Noida will play an integral part in providing just-in-time cargo facilities for the North India region and will support in levelling up the Indian logistics and air cargo sectors with state-of-the-art infrastructure, value-added services and improved cost efficiency,” said Nipun Aggarwal, Chairman of AISATS.
Yamuna International Airport Private Ltd, a subsidiary of Zurich Airport International AG, was established for the development, construction and operation of the green-field project – the Noida International Airport. In its initial phase, which is expected to be operational by the end of 2024, the airport will feature one runway and one terminal and handle a capacity of 12 million passengers.
“Establishing an integrated logistics gateway in Noida through our AISATS joint venture with Tata Group’s Air India will help develop the region into a strategic air cargo and export hub. Such a development also accelerates the expansion of our global air cargo hub handling capabilities as part of SATS’ twin-engine growth strategy.” said Bob Chi, Chief Executive Officer of SATS Gateway Services.