Air India SATS and YIAPL sign concession agreement to build multi-modal cargo hub at Noida airport
Noida (UP): Air India SATS Airport Services and Yamuna International Airport Private Limited (YIAPL) signed a concession agreement on Tuesday to build a multi-modal cargo hub (MMCH) at the upcoming Noida International Airport.
Sanjay Gupta, CEO of AISATS, and Christoph Schnellmann, CEO of YIAPL, signed the agreement at a ceremony held on May 30, 2023, at Noida.
The MMCH, spanning 87 acres, will comprise an Integrated Cargo Terminal (ICT) and an Integrated Warehousing & Logistics Zone (IWLZ).
Air India SATS Airport Services Private Ltd (AISATS) will design, build finance and operate the cargo hub, providing the logistics and cargo industry with a world-beating cargo processing and transportation grid that will help reduce logistics costs significantly, streamline processes for seamless coordination, and bring speed and transparency to the country’s supply chain.
Nipun Aggarwal, Chairman of AISATS, said, “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.”
The strategic location of this cargo hub will seamlessly connect multiple modes of transportation with consolidated ancillary and value-added services, establishing a highly efficient route for cargo throughput across India and abroad.
Bob Chi, CEO of SATS Gateway Services, said, “India is one of the world’s fastest-growing economies with huge opportunities for growth in the air cargo logistics space. 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.”
AISATS is a 50:50 JV between Air India Ltd (a Tata Group entity) and SATS Ltd (a leading provider of food and gateway services in Asia) and has been a foremost provider of hassle-free and comprehensive ground and cargo handling services to its airline customers in India.
The MMCH at Noida International Airport will start operations in 2024.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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